Petrol and diesel prices hiked

The price of petrol has been raised by Rs 0.89 per litre this month. The diesel price was also increased by Rs 0.86 at the same time.

After adding VAT and local taxes, petrol now costs Rs 67.62 a litre in Delhi and diesel is priced at Rs 56.41 per litre. From the last recorded prices of Rs 66.45 per litre, petrol is now costlier by Rs 1.17 per litre. Also, diesel is expensive by Rs 1.03 over the earlier Rs 55.38 per litre.

The petrol prices were last increased on October 16 by Rs 1.73 a litre, when the diesel prices also climbed by Rs 2.77 per litre. Since September 1, this is the sixth price hike for petrol, which now totals up to Rs 7.53 per litre in a couple of months. On the other hand, the last three diesel price hikes total to Rs 3.90 per litre.

IOC and other state-owned fuel retailers including Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) revise fuel prices depending on the international oil rates and foreign exchange ratio. The impact of this is now being passed down to consumers. These retailers will continue to monitor these rates and we can expect the next revision to come by the mid of this month.

Source: PTI