Petrol Price Hiked by Rs1.55/Litre(excluding taxes) Sunday July 14,2013

 

Oil companies today hiked the price of petrol by a steep Rs.1.55 a litre, without taxes, as the falling rupee made imports costlier.The new price will take effect from Sunday midnight.

The revision in prices, as per the practice of changing rates in line with cost every fortnight, was due on Tuesday, July 16, but has occurred a day earlier.

This is the 4th increase in rates in since June 2013 thanks to depreciation of the rupee against dollar.

Oil firms had on June 1 raised the price of the fuel by 75 paise, excluding VAT, and followed it with a Rs.2 per litre increase on June 16 and a Rs.1.82 on June 29,2013

Note

• With the latest increase, all of the gains made from 4 reductions in prices earlier this year had been neutralised.