New Delhi: Petrol price was on Saturday hiked by a steep Rs 2 a litre, the second increase in rates in June alone, as devaluation of rupee against US dollar made imports costlier. The hike, which is effective from midnight on Saturday, is excluding local sales tax or VAT and actual increase for consumers will be higher.
Petrol price in Delhi was hiked by Rs 2.40 a litre to Rs 66.39 from Rs 63.99 previously. Oil firms had from June 1 hiked prices by 75 paisa, excluding VAT. However unlike last time, there will be no change in price of diesel.
In Mumbai, petrol price has been increased by Rs 2.52 to Rs 74.60 while in Kolkata rates went up from Rs 71.29 to Rs 73.79 per litre. In Chennai, prices were hiked by Rs 2.54 to Rs 69.39. "Since last price change, the slide in Rupee (against the US dollar) has continued and the USD-INR Exchange rate has deteriorated from Rs 55.32 to Rs 57.08 per USD," said Indian Oil Corp, the nation's largest oil firm.
IOC said international petrol prices have also hardened during this period. "The combined impact of both these factors, mainly depreciation of the rupee, has warranted the increase in petrol prices by Rs 2 per litre (excluding VAT)," it said in a statement....
more
08:14 AM, Jun 16, 2013
New Delhi: Petrol prices are all set to be hiked from June 1 onwards. Sources say that the increase will be by Re 1 per litre, making it the first petrol hike in 3 months. The hike is to be announced once the three oil marketing companies meet on May 31. ...
09:32 PM, May 29, 2013
Diesel price was on Friday hiked by 45 paisa per litre, the third increase in the rate of nation's most consumed fuel since January. Diesel price will be hiked by 45 paisa, excluding VAT, from midnight tonight, Indian Oil Corp (IOC), the nation's largest oil firm, announced. ...
07:42 PM, Mar 22, 2013
Petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paisa a litre from March 15 or 16. While petrol prices are being cut in step with falling international oil rates, diesel rate increase would be in line with the January decision to raise prices in small dozes every month till all of the Rs 11 per litre losses are eliminated....
12:59 PM, Mar 14, 2013
An Assistant Sub Inspector (ASI) has died in a farmers' protest in Tarn Taran in Punjab on Wednesday morning. ...
09:31 AM, Mar 06, 2013
Politicians across the board have criticised the recent hike in fuel prices. Key UPA ally DMK on Saturday condemned the petrol price hike and demanded that government retain its control on pricing of petroleum products besides seeking a change in pricing policy. ...
03:04 PM, Feb 16, 2013
Slamming the hike in fuel prices, Tamil Nadu Chief Minister J Jayalalithaa on Friday said the move amounted to betraying the middle and lower classes and made a fresh demand for changing the fuel pricing policy. "Even before the ink had dried up after signing the hike in prices of diesel recently, the Centre is increasing the price of petrol by Rs 1.50 and diesel by 45 paise...it amounts to...
12:21 AM, Feb 16, 2013
Diesel prices set to go up monthly after the government decided to withdraw diesel subsidy. Oil companies say they will increase the price of diesel by 40 to 50 paise per litre every month. ...
02:22 PM, Feb 01, 2013
In Gujarat, over 7000 state-owned buses of the GSRTC are now buying diesel at petrol stations instead of their own depot. The reason - the centre's price hike by Rs 12 per litre which has hit the already-loss-making bus service. ...
09:58 AM, Jan 30, 2013
Months after her party quit the Congress-led UPA government, West Bengal Chief Minister Mamata Banerjee on Saturday claimed she had wanted to remain in the government, but was forced to pull out as the Centre did not accede to her demands. ...
10:06 PM, Jan 19, 2013
The government's decision to deregulate diesel prices would marginally increase the monthly inflation in the short-run, but eventually would help to reduce fiscal deficit, FICCI said on Saturday. ...
05:22 PM, Jan 19, 2013
India's demand for diesel will stay buoyant despite its plan to hike the price of the fuel in small monthly steps, analysts and company officials said on Friday, and the country will keep up the pace of its exports of diesel. ...
12:59 AM, Jan 19, 2013
Describing the UPA government as an 'exploiter' of the poor, West Bengal Chief Minister Mamata Banerjee today attacked it on the latest diesel price hike. "This government is an exploiter of the poor people. It is very distressing that prices of diesel have been further increased," Mamata said. ...
05:15 PM, Jan 18, 2013
India's move to raise the price of subsidised diesel should help with its plans to sell shares in state companies including Oil India Ltd to help bridge the government's fiscal deficit and gives a boost to private oil refiners looking to enter the market for bulk diesel sales. ...
04:59 PM, Jan 18, 2013
The government came under attack from its allies over the decision to partially deregulate diesel price. Bahujan Samaj Party chief Mayawati called the decision anti-people and said the government was only thinking about the rich and not the poor. "This will lead to further price rise of commodities. The government should reconsider its decision," Mayawati said. ...
12:51 PM, Jan 18, 2013
The government on Thursday took the first major step towards the deregulation of diesel prices saying oil companies will be allowed to decide the prices and hike the prices in small amounts from time to time. ...
08:03 AM, Jan 18, 2013
Sources said that the price of diesel would be hiked by 40-50 paise per litre every month, and the move would be effective from Friday. ...
11:59 PM, Jan 17, 2013
Oil firms allowed to hike diesel price by 50 paise/litre per month as the government makes first move towards diesel decontrol. ...
09:15 PM, Jan 17, 2013
Hours after the Cabinet on Thursday refused to take a call on increasing the price of diesel, kerosene and LPG, putting the onus on oil marketing companies to decide on diesel prices from time to time, sources said that the price of diesel would be hiked by 40-50 paise per litre every month, and the move would be effective from Friday. ...
08:00 PM, Jan 17, 2013
Automakers on Thursday said the government decision to allow "small" hikes in diesel prices was a step in the right direction although it could have some impact on sales. ...
07:29 PM, Jan 17, 2013
