State-owned oil companies on Friday announced a hike of Rs. 1.68 per litre in petrol prices in Delhi, citing high global prices and fall in the rupee against the US dollar. The hike comes into effect from Saturday.
Petrol prices were last revised by Rs. 1.50 per litre (excluding VAT) on February 16.
Therefore, petrol prices have risen by more than Rs. 3 per litre over the past fortnight and may be revised again on March 16 in case the upswing in global prices continues.
As taxes on fuel vary from one state to another, consumers in Delhi will have to pay Rs. 1.68 per litre more while those in other cities may have to shell out anywhere between Rs. 1.68 and Rs. 1.84 per litre more.
While petrol currently costs Rs. 69.06 per litre in Delhi, the new rate will be Rs. 70.74 per litre from Saturday. Petrol in Mumbai will cost Rs. 77.66 per litre against Rs. 75.89 per litre currently.
The monthly hike of 50 paise per litre in diesel prices is expected to be announced on March 16.