Petrol Prices Hiked yet again; now by 35 Paise

After announcing the hike in diesel prices by upto Rs. 10 in over next 10 months, the Govt of India on Tuesday evening has hiked the petrol prices by 35 Paise per litre in line with firming raw material cost. The increased prices came into effect from midnight on Tuesday. Petrol prices will now cost Rs. 67.56 per litre in the national capital, Delhi.

Prices of Petrol vary from city to city due to different sales and VAT rates applied locally. It was November 2012, when the Govt hiked the petrol prices by 95 paise due to fall of prices in international market. In October 2012 as well, the petrol prices were hiked by 56 paise per litre.

Since the petrol prices have been hiked over night silently, so nobody from the Govt or oil marketing companies was available for comments. However one good news for the diesel vehicle owners is that GOI might postponed the hike in diesel prices for some more months.

Speaking on the same one of the oil ministry official said, "There is also a possibility that the government may decide to raise diesel prices by 4-5 rupees a litre instead of going in for a phased increase," "With general elections due in 2014, raising prices will be difficult in the second half of this year." He further added.

Source: ET