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Petrol price hiked by 70p a litre, diesel by 50p

Petrol price was today hiked by 70 paisa per litre, the fifth increase in rates in two months, and diesel by 50 paisa per litre on firming international oil prices.

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The increase in rates, which will be effective midnight tonight, are excluding local sales tax or VAT. The actual hike will be higher and will vary from city to city. Petrol price in Delhi will go up by 84 paisa to Rs 71.28 per litre while it will cost Rs 78.61 per litre in Mumbai as against Rs 77.73 currently.u00a0

This is the fifth increase in rates since June and in all petrol prices have gone up by a massive Rs 6.82 per litre. Oil firms had on June 1 raised prices by 75 paisa, excluding VAT, and followed it with a Rs 2 per litre increase on June 16, a Rs 1.82 increase on June 29 and Rs 1.55 hike on July 15.

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