Bangaloreans to pay Rs 80.18 for petrol, Rs 60 for diesel

Bangaloreans to pay Rs 80.18 for petrol, Rs 60 for diesel

Petrol price was hiked by 60 paise a litre on Friday, the second increase this year while diesel gets dearer by 50 paise a litre making it the 14th hike since January 2013.

The hikes, effective from Friday midnight, 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 on January 4, will cost Rs 80.18 from Rs 79.38 in Bangalore. In Delhi, it will be Rs 73.16 a litre from Rs 72.43 at present. In Mumbai, the fuel will cost Rs 82.07 a litre as against Rs 81.31 at present. In Kolkata, it will cost 80.96 and in Chennai it will be Rs 76.48.

The price of diesel in Bangalore will go up from Rs 59.38to Rs 60. In Delhi, it will be Rs 55.48 per litre and Rs 63.86 a litre in Mumbai as against Rs 63.23 at present.

Announcing the price hike, Indian Oil Corporation, the nation’s largest fuel retailer, said petrol price has been hiked because international oil rates have risen and rupee depreciated against US dollar, making imports costlier.

IOC said even after the 14th price hike since January 2013, the oil companies are incurring Rs 8.37 per litre loss on sale of the fuel. Since January 2013, diesel rates have risen by a cumulative Rs 8.33.