Today's News of India
States :
Andhra Pradesh      Bihar      Chhattisgarh      Goa      Gujarat      Haryana      Himachal Pradesh      Jammu and Kashmir      Jharkhand      Karnataka      Kerala      Madhya Pradesh      Maharashtra      Northeast      Orissa      Punjab      Rajasthan      Tamil Nadu      Uttar Pradesh      Uttarakhand      West Bengal     
City :
Ahmedabad      Bangalore      Chandigarh      Chennai      Delhi      Hyderabad      Jaipur      Kolkata      Lucknow      Mumbai      Patna      Pune      Surat     
  • World Snap > Breaking News > Petrol to become costlier by Rs.1.55 per litre

    Petrol to become costlier by Rs.1.55 per litre

    Get Latest News on : Fuel Price

    July 14, 2013 18:32:30 IST
    Last Updated : July 14, 2013 20:31:22 IST

    New Delhi : Petrol price will go up by Rs.1.55 per litre, excluding state taxes, from Sunday midnight, largely due to depreciation in the value of the rupee and rise in crude oil prices in international markets, Indian Oil Corporation said.

    View Full Image

    This is the second sharp hike in petrol prices in the past two weeks and fourth increase in less than two months. The previous increase was June 29, when the oil marketing firms had hiked the price by Rs.1.82 per litre, excluding taxes.

    However, the price of diesel will remain unchanged.

    “The combined impact of deteriorating exchange rate and increasing international oil prices has resulted in the need to increase petrol prices by Rs.1.55 per litre (excluding VAT),” the country’s largest oil retailer said in a statement.

    Actual increase in prices will be higher and differ from state to state depending on the local tax rates.

    In the national capital Delhi, one litre petrol will cost Rs.70.44 from Sunday midnight, as against the existing price of Rs.68.58.

    The current prices of petrol in other major cities are: Mumbai Rs.75.79 per litre; Kolkata Rs.75.84 per litre and Chennai Rs.71.65 a litre.

    Justifying the hike in prices, Indian Oil Corporation (IOC) said: “Since last price change, the downward spiral of rupee against the US dollar has continued to reach a low of Rs.60.03/USD as against Rs.58.94/USD during the previous fortnight. Further, international MS (motor spirit) prices have also shown an uptrend and increased from $115.29 a barrel to $117.19 a barrel.”

    Oil marketing companies review petrol and diesel prices once every two weeks.

    A sharp depreciation in the value of the rupee has made oil imports costlier and put pressure on the marketing firms as they supply diesel at subsidised rates.

    On the future price move, IOC said: “The movement of prices in international oil markets and INR-USD (Indian rupee and US dollar) exchange rate is being closely monitored and developing trends of the market will be reflected in future price changes.”

    Get Latest News on : Fuel Price

    Do you like this story? Do thumb up here.

    1 Comment

    • At 2013.07.14 20:50, RAJAT KUMAR MOHINDRU.JALANDHAR CITY.PUNJAB said:

      The fourth hike in the price of Petrol within Six weeks , really the hike in Petrol will boost Inflation and break the back bone of the common man and his homely budget .

      (Required)
      (Required, will not be published)



      Author : , Section : Breaking News, Business, Featured, India, Top News, TAGS : Tagged as: Fuel Price

    IPL 2014

    Are you news lover?

    Be smart. Keep updated with latest news.!!! Get all top news with summary in your email (only once in a day). Enter your EmailId :