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Business News/ Politics / Policy/  Petrol prices hiked by Rs3.96 a litre, diesel prices by Rs2.37
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Petrol prices hiked by Rs3.96 a litre, diesel prices by Rs2.37

Prices of petrol in Delhi will be Rs63.16 a litre from Friday while diesel will cost Rs49.57 per litre

Petrol prices had been cumulatively cut by Rs17.11 a litre in 10 reductions between August and February and diesel by Rs12.96 a litre in 6 reductions between October and February. Photo: PTIPremium
Petrol prices had been cumulatively cut by Rs17.11 a litre in 10 reductions between August and February and diesel by Rs12.96 a litre in 6 reductions between October and February. Photo: PTI

New Delhi: After two rounds of cuts, petrol prices were on Thursday raised by Rs3.96 per litre and diesel by Rs2.37 a litre, tracking global cues. The increase in petrol and diesel prices will be effective from Thursday midnight.

Prices of petrol in Delhi will be Rs63.16 a litre from Friday as against the current Rs59.20; while diesel will cost Rs49.57 per litre as against Rs47.20, Indian Oil Corp (IOC), the nation’s largest oil company, said.

Rates were last cut by 80 paise per litre on petrol and .30 a litre on diesel from 16 April. This followed a reduction of 49 paisa a litre in the price of petrol and 1.21 in diesel from 2 April.

Petrol prices had been cumulatively cut by Rs17.11 a litre in 10 reductions between August and February and diesel by Rs12.96 a litre in 6 reductions between October and February.

The rates were increased by 0.82 a litre in petrol and Rs0.61 per litre in diesel on 16 February, and by Rs3.18 per litre in petrol and Rs3.09 a litre in diesel on 1 March.

After these, rates had been cut twice. State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.

“The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," IOC said.

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Published: 30 Apr 2015, 10:08 PM IST
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