Petrol price hiked by Rs. 1.63 per litre

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Pettrol Pump
New Delhi, Sept 13: Oil marketing companies today increased the price of petrol by Rs. 1.63 per litre, excluding VAT, due to rising international prices and a falling rupee against the US dollar in the preceding fortnight, retailer Indian Oil said in a statement today.

"During the first fortnight of September 2013, average international prices of petrol have gone up from $114.44/ bbl to $117.40/bbl. The average INR-USD exchange rate has also deteriorated further from Rs. 63.88/$ to Rs. 66.02/$," the statement said.

The revised prices will come into effect from midnight.

After the revision, petrol will cost Rs. 76.06 per litre in Delhi, Rs. 83.62 per litre in Mumbai, Rs. 83.63 per litre in Kolkata and Rs. 79.55 per litre in Chennai.

Petrol prices were last raised on August 31, by Rs. 2.35 per litre.

Oil firms review the price of petrol every two weeks. While the price of petrol has been deregulated since June 2010 and the price is market determined, the government still controls the price of diesel and allows only minor revisions.

PTI

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