State-owned oil companies on Thursday have increased the prices of
petrol by Rs 1.82 per litre from midnight. Earlier, the petroleum
ministry said it is up to the oil companies to decide on raising the
rates of the deregulated commodity.
After today's increase, petrol in Delhi will cost Rs 68.64 a litre.
The rates will vary in other cities according to local levies.
This is the second hike in petrol prices in less than two months and
it came on a day when the food inflation rose "dangerously" to 12.21
per cent for the week ended October 22.
"It is for them (oil companies) to decide. They will take a decision
at a right time," Oil secretary G C Chaturvedi told reporters.
Slamming the hike, BJP leader Sushma Swaraj wrote on micro-blogging
site Twitter, "Petrol price hiked again - another blow to the common
man from an insensitive government."
Indian Oil, HPCL and Bharat Petroleum had last hiked petrol prices by
Rs 3.14 a litre on September 16, when the rupee was valued at about Rs
48 per US dollar. The exchange rate is now over Rs 49 per dollar.
State-owned oil firms Indian Oil, Hindustan Petroleum and Bharat
Petroleum had earlier hiked petrol prices by Rs 3.14 a litre on
September 16 when the rupee was ruling at about 48 to a US dollar. The
local currency has depreciated further.
The rupee on Thursday closed at 49.14/15 against the US dollar.
The government had in June last year deregulated or freed petrol from
all price controls but the retail rates have not moved in line with
cost as high inflation rate forced the oil companies to seek 'advice'
from parent oil ministry before revising rates.
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