Petrol hiked by Rs 2.21/litre, diesel by Rs 1.79 a litre

The last hike was on Dec 1 when petrol price was hiked by 13 paise a litre, but diesel rates were cut by 12 paise

Bengaluru, Dec 16: Petrol prices were hiked by Rs 2.21 per litre and diesel by Rs 1.79 a litre, excluding state levies with effect from midnight on Friday.

Rates were last revised on Dec 1 when petrol price was hiked by 13 paise a litre, but diesel rates were cut by 12 paise.

Oil companies had earlier deferred a price hike in petrol and diesel respectively. 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 increase 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.

Industry sources had predicted that the deferment may be for a day or two as Parliament is in session and any hike would have added to the discomfort for the government, particularly when it is facing heat over hardships caused by currency demonetisation, the Press Trust of India reported.

(With PTI inputs)

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