Petrol price hiked by Rs 2.21 per litre, diesel by Rs 1.79 per litre
The price revision was to come into effect yesterday, but was deferred- most probably to save more chaos to government in already disturbed Parliament.
Effective from midnight, the price for Diesel and Petrol has been hiked by Rs 1.79 per litre and Rs 2.21 litre respectively.
The hike has been announced excluding local levies, 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 now costs Rs 68.94 per litre as against Rs 66.10 previously, said Indian Oil Corporation(IOC). Similarly, a litre of diesel now costs Rs 56.68 as compared to Rs 54.57 earlier.
If the reports are to be believed, the price revision was to come into effect yesterday, but was deferred- most probably to save more chaos to government in already disturbed Parliament. Therefore, the price revision came into effect from midnight.
IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates on 1st and 16th of every month based on average international price in the previous fortnight. However, the increase that was warranted because of a rise in international petrol price to USD 62.82 per barrel from USD 57.43 and that of diesel to USD 60.97 from USD 56.79 was not announced yesterday.
The reason being suggested is to avoid more mess on the last day of Winter Session of Parliament, which was a complete washout.
Rates were last revised on December 1 when petrol price was hiked by a marginal 13 paise a litre, but diesel rates were cut by 12 paise.