The price of petrol and diesel has been hiked by Rs 1.50 and 45 paise respectively. The price hike will be effective from midnight and does not include local sales tax or VAT. This last revision in prices was on the 17th of January where the petrol price was reduced by 29 paise and diesel hiked by 50 paise.
The price of petrol was deregulated more than a year-and-a-half ago and has been revised 27 times since then. The Central Government recently permitted three public sector oil companies to increase the price of diesel by 40-50 paise in a bid to cut its losses.
