Petrol price up by 60 paise, diesel by 50 Paise From March 2014

Petrol price up by 60 paise, diesel by 50 Paise From March 2014

PETROL price was on Friday hiked by 60 paise a litre, the second increase this year, and diescl by 50 paise per litre, the 14th hike since January 2013.
The hikes, effective from midnight on Friday night, are excluding local sales tax or VAT and actual increase will be higher and will vary from city to city. Petrol price, which was last hiked by 91 paise on January 4. will cost Rs 73.16 a litre in Delhi from midnight, up 73 paise from Rs 72.43 at present. In Mumbai. the fuel will cost Rs 82.07 a litre as against Rs 81.31 at present. 

The price of diesel in Delhi will be hiked by 57 paise. including lax. to Rs 55.48 per litre, while it will cost Rs 63.86 a litre in Mumbai as against Rs 63.23 at present.
Announcing the price hike. Indian Oil Corp, the nation's largest fuel retailer, said petrol price has been hiked because international oil rates have risen and rupee depreciated again US dollar, making imports costlier.
The diesel price increase is in line with the January 2013 decision of the Government to raise rates by up to 50 paise per month till such time that the entire losses on the fuel arc wiped out. and prices made market determined.