Third hike in a month, petrol up Rs 2 per litre

Oil companies on Friday raised retail petrol prices by R1.82 a litre, the third hike this month, as a falling rupee that slid 13% since May made crude oil imports costlier.

Oil companies on Friday raised retail petrol prices by Rs 1.82 a litre, the third hike this month, as a falling rupee that slid 13% since May made crude oil imports costlier.

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A hike in diesel rates is expected early next week.

Oil companies raised petrol rates by Rs 1.82 a litre, excluding local sales tax or VAT, with effect from midnight.

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.

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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.