Petrol Price Hike By 2 rupees 2013 from 16 June 2013

Petrol Price Hike By 2 rupees 2013 from 16 June 2013

PETROL price was on Saturday hiked by a sleep Rs 2 a liter, the second increase in rates this month, as devaluation of rupee against US dollar made imports costlier. The hike, which is effective from Saturday midnight, is excluding local sales tax or VAT and actual increase for consumers will be higher.

Petrol price in Delhi was hiked by Rs 2.40 a litre to Rs 66.39 from Rs 63.99 previously.

This is the second increase in rates this month. Oil firms had from June 1 hiked prices by 75 paisa. excluding VAT. However unlike last time, there will be no change in price of diesel. In Mumbai. petrol price has been increased by Rs 2.52 to Rs 74.60 while in Kolkata rates went up from Rs 71.29 to Rs 73.79 per litre. In Chennai. prices were hiked by Rs 2.54 to Rs 69.39.

"Since last price change, the slide in Rupee (against the US dollar) has continued and the USD-INR Exchange rate has deteriorated from Rs 55.32 to Rs 57.08 per USD." said Indian Oil Corp. the nation's largest oil firm. IOC said international petrol prices have also hardened during this period. "The combined impact of both these factors, has warranted the increase in petrol prices. it said in a statement.