Petrol price hiked by 5 paise a litre, diesel by Rs 1.26

New Delhi: Petrol price was on Wednesday marginally hiked by 5 paise a litre and diesel by Rs 1.26 a litre, the fourth increase in rates in six weeks.
Petrol will cost Rs 65.65 a litre in Delhi from midnight tonight as compared to Rs 65.60 per litre currently, Indian Oil Corp, the nation’s largest fuel retailer, announced. Similarly, diesel will cost Rs 55.19 per litre as against Rs 53.93 a litre currently.
This is the fourth increase in auto fuel prices since May 1. Petrol price was last hiked by Rs 2.58 a litre on June 1 and diesel by Rs 2.26 a litre following oil prices crossing USD 50 per barrel mark.
Petrol prices in the four hikes have been raised by Rs 4.52 a litre, while diesel rates have gone up by Rs 7.72 per litre.
Barring an exemption on April 16, when price of petrol was cut by 74 paise a litre and diesel by Rs 1.30, the upward trend in rates has been a phenomenon since March 17.
Petrol price was hiked by Rs 3.07 a litre on March 17 and Rs 2.19 per litre on April 4. In case of diesel, there were four straight hikes prior to that cut totalling Rs 4.63 per litre. (PTI)