Petrol Price Hiked By Rs 7.11 Per Litre And Diesel By Rs 7.67 In 13 Days
Petrol price was hiked by 56 paise per litre and diesel by 63 paise a litre on Friday, taking the cumulative increase in rates to Rs 7.11 and Rs 7.67 per litre respectively in less than two weeks.
Petrol price in Delhi was hiked to Rs 78.37 per litre from Rs 77.81, while diesel rates were increased to Rs 77.06 a litre from Rs 76.43, according to a price notification of state oil marketing companies.
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or value added tax.
This is the thirteenth daily increase in rates in a row since oil refiners resumed daily price revisions on June 7, in line with costs, after ending an 82-day hiatus.
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances. State-run oil marketers Indian Oil Corp., Bharat Petroleum Corp. and Hindustan Petroleum Corp. were adjusting excise duty hikes against the fall in retail rates that was warranted because of the fall in international oil prices, instead of passing them on to the customers.
International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them.