New Delhi,â€ˆMar 01, 2015, DHNS: A hike in petrol and diesel prices by over Rs 3 per litre from Saturday-Sunday midnight took away more from the common man than the Finance Minister Arun Jaitley proposed to give through his Budget.
Petrol price were hiked by Rs 3.18 per litre, and diesel by Rs 3.09, excluding local taxes. This is the second increase in rates in February.
After the hikes, petrol in Bengaluru will cost Rs 66.18 as against Rs 62.81 currently, while diesel will cost Rs 54.06 per litre as against Rs 50.72 at present.
With the increase, petrol in Kolkata would cost Rs 67.92 per litre, up from Rs 65.29, Rs 68.14 per litre in Mumbai, up by Rs 3.33, and Rs 63.31 in Chennai after a hike of Rs 3.46.
Similarly, diesel would cost Rs 54.29 in Kolkata, up by Rs 2.75, Rs 57.08 in Mumbai, and Rs 52.92 in Chennai after a hike of Rs 3.34. “Prices of petrol and diesel were last revised upwards with effect from February 16 by Rs 0.82 per litre and Rs 0.61 per litre, respectively (including state levies at Delhi). Since then, there has been a further steep increase in international prices of both petrol and diesel,” said Indian Oil Corp (IOC) in a statement.
The slight depreciation in the rupee-dollar exchange rate, together with firming international rates, warrant increase in retail selling price of petrol and diesel, it said. The Rs 3 hike at one go on petrol and diesel is the highest in the recent past.
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 the international oil market and the rupee-dollar exchange rate shall continue to be closely monitored,” said the IOC statement.