Petrol price hiked by Rs 2.21, diesel by Rs 1.79 today; to be effective from midnight

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December 17, 2016

In another setback for the public at large, oil marketing companies announced a petrol and diesel price hike.

The rationalizing of petrol and diesel prices to reflect the market price has led to regular price hikes, but these have also been cut too.

Petrol price was hiked by Rs 2.21, diesel by Rs 1.79 today; to be effective from midnight.

December 17, 2016

In another setback for the public at large, oil marketing companies announced a petrol and diesel price hike.

The rationalizing of petrol and diesel prices to reflect the market price has led to regular price hikes, but these have also been cut too.

Petrol price was hiked by Rs 2.21, diesel by Rs 1.79 today; to be effective from midnight.

This comes in the wake of reports in the morning saying that PSU oil companies have deferred a planned Rs 2.26 a litre hike in petrol and Rs 1.78 increase in diesel.

Indian Oil Corporation (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates, particularly when a price cut is necessitated, on 1st and 16th of every month based on average international price in the previous fortnight.

Previously, petrol prices in Delhi was Rs 66.10 per litre, while that of diesel was Rs 54.57. While in the last revision of rates,

In December, petrol prices were hiked by 13 paise, diesel rates were cut by 12 paise.


Courtesy: Financial Express

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