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  • Petrol prices to be hiked by Rs. 2 per litre from midnight

    Published on June 15, 2013

    petrolOil companies will hike the price of petrol by Rs. 2 a litre, without taxes, from midnight tonight.

    The hike can be blamed on the depreciating rupee as it ended just above its 10-month low making oil imports costlier.

    While international oil prices have softened, the rupee has depreciated against the US currency to Rs. 57.44 per dollar, about Rs. 3 lower than the rate at the last revision in March.

    This will be the first price-hike in three months’ time.

    Petrol prices were last increased on March 1. Since then, petrol prices have been cut four times on falling global oil prices.

    Petrol prices were cut by Rs. 3 per litre on May 1, Rs. 1.20 on April 16, Re 1 on April 1 and Rs. 2.40 on March 16.

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