Friday, June 21, 2024
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Petrol price hiked, again

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New Delhi: State-owned oil companies on Thursday effected yet another steep hike in petrol price, by Rs 1.80 per litre with effect from Thursday midnight, the 5th increase this year, coming on top of falling rupee and rising cost of imported crude. Petrol price in Delhi will cost Rs 68.64 per litre, up from Rs 66.64 a litre. The retail selling price in different cities will vary according to the local sales tax.

This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose “dangerously” to 12.21 per cent for the week ended October 22.

Oil marketing companies had earlier hiked petrol prices by Rs 3.14 a litre on September 16 when the rupee was ruling at about 48 to a US dollar.

The government had in June last year deregulated or freed petrol from all price controls but the retail rates have not moved in line with cost as high inflation rate forced the oil companies to seek ‘advice’ from parent oil ministry before revising rates. (PTI)

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