Petrol price hiked by Rs. 2.21/litre; diesel by Rs. 1.79
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 Friday Dec 16,2016
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 USD 62.82 per barrel from USD 57.43 and that
of diesel to USD 60.97 from USD 56.79 was not announced Friday Dec 16,2016
Rates were last revised on December 1 when petrol price was hiked by a
marginal 13 paise a litre, but diesel rates were cut by 12 paise.
Prior to the December 1 price change, rates were hiked by Rs. 1.46 a litre in the case of petrol and Rs. 1.53 per litre for diesel, excluding local levies, on November 16.
“The current level of international product prices of petrol and diesel
and Rupee—US Dollar exchange rate warrant increase in selling price of
petrol and diesel, the impact of which is being passed on to the
consumers with this price revision,” IOC said in a statement.
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