The hike will not result in any increase in retail selling price of the two fuels as it would adjust against the reduction in rates that may have been possible because of the slide in international oil prices.
Petrol price was on Friday cut by 32 paise a litre and diesel’s by 85 paise a litre, the fourth reduction in rates in six weeks on the back of softening global oil prices.
Petrol will cost Rs 61.06 per litre from midnight on Saturday as against Rs 60.70 a litre currently, said Indian Oil Corp, the nation’s largest fuel retailer.
This is first change in petrol price since September 1 when it was cut by Rs 2 per litre to Rs 61.20 in Delhi. Subsequent fortnight did not see any rate change in petrol.
With better combustion properties and lesser pollutants, Dimethyl ether can replace petrol and diesel
As part of the strike, all the 350 pumps in the city, Pimpri-Chinchwad and three cantonments were to remain closed from Sunday midnight to Monday midnight.
Price of petrol in Delhi has been cut by Rs 2 per litre, including local levies, and will cost Rs 61.20 per litre from Tuesday as against Rs 63.20 currently.
Petrol in Delhi will cost Rs 63.20 per litre from tomorrow as against Rs 64.47 a litre currently. A litre of diesel will
cost Rs 44.95 as compared to Rs 46.12 currently.
Petrol and diesel will be dearer in the national capital with the AAP government’s decision to increase VAT rates on them.
The cut in petrol prices comes on back of three successive increases since May, while this is the second reduction in diesel rates this month.
The then Petroleum Secretary, G V Ramakrishna’s pitch to the oil majors was: with drilling rigs idle and exploration costs low, it made sense to risk bucking the trend.
After the cut, petrol will cost Rs 59.20 a litre in Delhi and diesel will be available Rs 47.20 a litre.
Prices of petrol in Delhi will be Rs 60 a litre from tomorrow as against the current Rs 60.49.
Petrol in Delhi will cost Rs 56.49 a litre from midnight tonight as compared to Rs 58.91 now.
The third excise duty hike since November will help raise additional Rs 6,000 crore during the current fiscal.