Petrol price hiked by 60 paise, diesel by 50 paise


fuel-price-hikedPetrol price was today raised by 60 paise a litre, without taxes, while the price of diesel was hiked by 50 paise per litre. The revised prices will take effect from midnight.

Fuel prices were last revised on January 31, when diesel was made expensive by 50 paise per litre, while petrol price was kept unchanged.

While the price of petrol is market determined, the government still controls the price of diesel and only allows minor revisions each month.

The diesel price increase was in line with the government’s January 2013 decision to raise rates by up to 50 paise per month till such time that the entire losses on sale of the fuel are wiped out, and prices made market determined.