PSU oil companies have deferred a planned Rs 2.26 a liter hike in petrol and Rs 1.78 increase in diesel.
PSU oil companies has hiked the petrol and diesel prices
The surge in international price, which was moderately tempered by strengthening of the rupee to Rs 68.05 from Rs 68.23 a dollar, had necessitated Rs 2.26 a liter hike in petrol and Rs 1.78 in diesel, officials said. (Reuters)
Indian Oil Corporation (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corporation (HPCL) revision rates, especially when it becomes necessary to cut the price in the previous fortnight 1 and on the 16th of every month based on average international price.
But that increased international gasoline (petrol) prices of US $ 62.82 to $ 57.43 per barrel from USD 56.79 to USD 60.97, and diesel increase was warranted because today was postponed.
The boom in international prices, the modest Rs 68.23 to Rs 68.05 per dollar were tempered by strengthening rupee, petrol by Rs 2.26 to Rs 1.78 per liter and diesel was necessary, officials said.
This increase was excluding local levies. After considering the VAT increase would have been real for about Rs 2.90 per liter and diesel by Rs 2.10 would have been the same.
Petrol in Delhi currently costs Rs 66.10 a liter and diesel Rs 54.57.
The previous one, when the price of petrol by 13 paise per liter increase was modest in December, has been revised, but diesel rates were cut by 12 paise.
IOC Chairman B Ashok moratorium upheld the move and said, “It is not mandatory” to change the rates on a particular date.
They said. “The price revision is being calibrated manner.”
“We need to take an overall view and then calibrate our views.”
Price changes prior to December 1, the rate of Rs 1.46 per liter on November 16 in the case of petrol and diesel by Rs 1.53 per liter, excluding local levies, were increased.