scorecardresearch
Follow Us:
Saturday, August 13, 2022

Petrol, diesel prices hiked by over Rs 3 per litre

Petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014.

New Delhi |
Updated: February 28, 2015 8:50:23 pm
Petrol price hike, Price hike A litre of petrol in Delhi will cost Rs 60.49.

Petrol price was on Saturday hiked by Rs 3.18 per litre and diesel by Rs 3.09, the second increase in rates this month on rising international oil rates.

The increase is effective from Saturday midnight.

[related-post]

A litre of petrol in Delhi will cost Rs 60.49 from Sunday as against Rs 57.31 currently while diesel will cost Rs 49.71 per litre as against Rs 46.62 at present, oil companies announced in New Delhi on Saturday.

Subscriber Only Stories
What three letters, part of the Lahore Conspiracy Case, will be part of a...Premium
Seven decades since Independence, it’s high time our films reflecte...Premium
India still fails its women, 75 years after IndependencePremium
Cricket chases the American dreamPremium

Prior to the increases this month, petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014.

Cumulatively, petrol price had been cut by Rs 17.11 per litre in ten reductions since August and diesel by Rs 12.96 a litre since its deregulation in October.

This trend was reversed when rates were raised on February 16.

“Prices of petrol and diesel were last revised upwards with effect from February 16 by Rs 0.82 per litre and Rs 0.61 a litre respectively (including state levies at Delhi)…Since the above price revision, there has been further steep increase in international prices of both petrol and diesel,” Indian Oil Corp (IOC) said in a statement.

Also, the slight depreciation in rupee-dollar exchange rate together with firming international rates warrant increase in retail selling price of petrol and diesel, it said.

Advertisement

Fuel prices would have been lower but for four consecutive excise duty hikes since November totalling Rs 7.75 a litre on petrol and Rs 7.50 on diesel.

“The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” the IOC statement said.

📣 Join our Telegram channel (The Indian Express) for the latest news and updates

For all the latest Business News, download Indian Express App.

  • Newsguard
  • The Indian Express website has been rated GREEN for its credibility and trustworthiness by Newsguard, a global service that rates news sources for their journalistic standards.
  • Newsguard
First published on: 28-02-2015 at 08:05:25 pm

Featured Stories

Advertisement
Advertisement
Advertisement
Advertisement