Oil companies on Friday hiked the price of petrol by 75 paise per litre, without taxes. The price of diesel was also raised by 50 paise a litre. Oil firms also cut the price of non-subsidised LPG by Rs 45 per cylinder.
The revised prices will take effect from midnight, tonight.
The hike comes after the highest cut in the price of petrol in over five years by Rs.3, a month ago.
After the revision, petrol prices in four major cities stand as follows: Delhi-63.99 per litre; Kolkata- Rs 71.29; Mumbai- Rs 70.68; Chennai- Rs 66.85.
follows:
as
stand
prices
diesel
Also
Delhi- Rs 50.25 per litre; Kolkata- Rs 54.56; Mumbai- Rs 56.66; Chennai- Rs 53.53.
The fall in rupee against the US dollar, puts pressure on oil companies that buy crude in the American currency.
The rupee on Friday closed at 56.4950 against Thursday's close of 56.38/39. It had earlier hit 56.76, its lowest since June 28, 2012, to the dollar on Friday.
Oil companies have cut petrol prices four times since March, before this hike.
Oil firms review the price of petrol every two weeks. While petrol price has been deregulated since June 2010 and the price is market determined, the government still controls the price of diesel, and allows only minor revisions.
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