Petrol price hiked by Rs1.63 across country
15 Sept 2013 5:10 AM IST
Petrol prices were on Friday hiked by Rs 1.63 per litre, the seventh increase since June, on rising oil rates and falling rupee.
The increase excludes local sales tax or VAT and will be effective from midnight Friday, oil firms said.
The petrol price in Delhi will go up by Rs 1.96 to Rs 76.06 per litre, while it will cost Rs 83.63 per litre in Mumbai as against Rs 81.57 currently. With this increase, petrol prices have gone up by a massive Rs 10.80 per litre since June, excluding VAT. The price in Delhi has surged by Rs 13.06 per litre, inclusive of state tax, since 1 June. A cut in petrol prices had been expected on 15-16 September the scheduled date for fortnightly revisions, on the back of an appreciating rupee over the past few days.
However, the oil firms advanced the date and announced the increase after factoring in the rupee’s depreciation in the early part of the month. Indian Oil Corp, the nation’s largest oil firm, said average international prices of petrol have gone up to $117.40 a barrel from $114.44 a barrel while the average exchange rate has deteriorated to Rs 66.02 a dollar in September from Rs 63.88 a dollar in the second half of August.
The increase excludes local sales tax or VAT and will be effective from midnight Friday, oil firms said.
The petrol price in Delhi will go up by Rs 1.96 to Rs 76.06 per litre, while it will cost Rs 83.63 per litre in Mumbai as against Rs 81.57 currently. With this increase, petrol prices have gone up by a massive Rs 10.80 per litre since June, excluding VAT. The price in Delhi has surged by Rs 13.06 per litre, inclusive of state tax, since 1 June. A cut in petrol prices had been expected on 15-16 September the scheduled date for fortnightly revisions, on the back of an appreciating rupee over the past few days.
However, the oil firms advanced the date and announced the increase after factoring in the rupee’s depreciation in the early part of the month. Indian Oil Corp, the nation’s largest oil firm, said average international prices of petrol have gone up to $117.40 a barrel from $114.44 a barrel while the average exchange rate has deteriorated to Rs 66.02 a dollar in September from Rs 63.88 a dollar in the second half of August.
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