The extent of the increase in the retail price of petrol will differ from city to city depending on local taxes.
Petrol price in Delhi will go up by Rs. 2.19 per litre to Rs. 68.58.
Oil firms had raised prices by 75 paise on June 1 and followed it with a nearly Rs. 2.50-per-litre increase on June 16.
Costlier fuel, which raises the cost of ferrying goods across locations, can potentially raise prices of goods and services, limiting RBI’s elbow room to slash interest rates.