Petrol, Diesel Prices hiked by over Rs 3 Per Litre

The petrol prices were spiked by Rs 3.18 per litre, while the diesel prices went up by Rs 3.09 per litre with effect from midnight today. This is the seco d increase in fuel prices in February, due to rising global crude prices.

A litre of petrol in Delhi will cost Rs 60.49 from tomorrow as against Rs 57.31 currently while diesel will cost Rs 49.71 per litre as against Rs 46.62 at present, oil companies announced on Saturday.

Prior to the increases this month, petrol price had been cut on ten occasions since August 2014 and diesel six times since October 2014. Cumulatively, petrol price had been cut by Rs 17.11 per litre in ten reductions since August and diesel by Rs 12.96 a litre since its deregulation in October.

Prices of petrol and diesel were last revised upwards with effect from February 16 by Rs 0.82 per litre and Rs 0.61 a litre respectively on February 16, 2015. Since the above price revision, there has been further steep increase in international prices of both petrol and diesel,” Indian Oil Corp (IOC) said in a statement.

Brent crude rose $2.53 to $62.58 a barrel on Friday, taking this month’s rise to 18%, which is the biggest monthly percentage rise since May 2009, according to Reuters. (With Agency Inputs)