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Petrol price hiked by Rs1.29 per litre, diesel by 97 paise a litre

After Sunday’s hike, petrol in Delhi will now cost Rs70.60 a litre from Monday as compared to Rs68.94 currently. Similarly, diesel will cost Rs57.82, up from Rs56.68. Photo: Ramesh Pathania/MintAfter Sunday’s hike, petrol in Delhi will now cost Rs70.60 a litre from Monday as compared to Rs68.94 currently. Similarly, diesel will cost Rs57.82, up from Rs56.68. Photo: Ramesh Pathania/Mint

New Delhi: Fuel retailers Indian Oil Corp. Ltd, Hindustan Petroleum Corp. Ltd and Bharat Petroleum Corp. Ltd raised the price of petrol by Rs1.29 a litre and diesel by Rs0.97 a litre, excluding state taxes, from Sunday midnight.

Petrol price was last hiked on 17 December by Rs2.21 a litre and diesel by Rs1.79 per litre, excluding local levies.

Indian Oil Corp. said in a statement that the current price of auto fuel in global markets and the rupee-dollar exchange rate warranted the latest retail price revision.

Non-branded petrol will accordingly cost Rs70.6 in Delhi, Rs73.13 in Kolkata, Rs76.91 in Mumbai and Rs70.07 in Chennai.

Non-branded diesel will cost Rs57.82 in Delhi, Rs60.06 in Kolkata, Rs63.61 in Mumbai and Rs59.47 in Chennai.

International prices of auto fuel has been inching up after the Organisation of Petroleum Exporting Countries (Opec), a grouping of 13 oil producing nations, on 30 November decided to cut global output of crude oil by 1.2 million barrels a day in the first such deal since 2008.

Indian Oil Corp. Ltd (IOC), Bharat Petroleum Corp. Ltd (BPCL) and Hindustan Petroleum Corp. Ltd (HPCL) revise rates on 1st and 16th of every month based on average international price in the previous fortnight.

[“Source-Livemint”]

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