Petrol to cost Rs 76.04 in City, diesel Rs 52.64
The hike does not take into account local sales tax or value added tax (VAT), which varies from state to state. The pump price of petrol will now be Rs 69.06 per litre in Delhi, Rs 75.91 in Mumbai, Rs 72.16 in Chennai, Rs 76.62 in Kolkata and Rs 76.04 in Bangalore.
The effective rise in petrol and diesel prices in Delhi, which levies 19 per cent VAT, were Rs 1.80 and 51 paise per litre respectively.
One litre of diesel will cost Rs 48.16 in Delhi, Rs 52.04 in Kolkata, Rs 54.28 in Mumba, Rs 51.23 in Chennai and Rs 52.64 in Bangalore.
Fuel prices were last revised on January 17. While petrol price was slashed by 29 paise per litre, diesel price was hiked by 50 paise. Indian Oil Corporation said that it was compelled to resort to price hike after incurring losses on sale of petrol and diesel.