Petrol price was hiked by Rs 1.29 a litre and diesel rate was raised by 97 paise a litre. The increase in rates announced by oil firms is excluding state levies and the actual hike will be higher. This is the third increase in petrol price in one month and the second in case of diesel in one fortnight.
Petrol price was on December 17 hiked by Rs 2.21 a litre and diesel by Rs 1.79 per litre, excluding local levies. The actual hike after considering VAT came to Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel.
Indian Oil Corp (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.
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