Saturday, 17 December 2016

Petrol price hiked by Rs 2.21/litre, diesel by Rs 1.79/litre

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Petrol price was today hiked by Rs 2.21 a litre and diesel by Rs 1.79 per litre, excluding local levies. The price revision was to come into effect yesterday, but was deferred possibly to save the demonetisation-battered government from any blushes in Parliament. The revised rates will be effective from midnight tonight. This increase excludes local levies. The actual hike after considering VAT would be Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.

After the hike, petrol in Delhi will cost Rs 68.94 per litre from midnight tonight as against Rs 66.10 currently, said Indian Oil Corp, the nation's largest fuel retailer. Similarly, a litre of diesel will cost Rs 56.68 as compared to Rs 54.57 now. IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates on 1st and 16th of every month based on average international price in the previous fortnight.

But an increase that was warranted because of a rise in international gasoline (petrol) price to $62.82 per barrel from $57.43 and that of diesel to $60.97 from $56.79 was not announced yesterday.

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