Petrol, diesel prices hiked steeply; non-subsidised LPG to cost Rs21 more per litre

A day after raising petrol prices by Rs2.58 per litre and diesel prices by Rs2.26 per litre, state-run oil marketing companies today sharply raised the prices of non-subsidised LPG cylinders and aviation fuel.

OMCs last night hiked petrol prices by Rs2.58 a litre and diesel prices by Rs2.26 per litre, raising the price of petrol in Delhi to Rs65.60 per litre and that of diesel to Rs53.93 per litre.

"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," said Indian Oil Corp (IOC).

The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, it added.

Simultaneously, the price of non-subsidised cooking gas has been raised by Rs21 per cylinder, effective midnight of Tuesday.

The government had hiked the price of non-subsidized cooking gas or LPG by Rs14.2 a cylinder in November last year.

Non-subsidised cooking gas (LPG) now costs Rs548.50 in Delhi as against Rs527.50 previously.

Aviation turbine fuel or jet fuel price was also hiked by a steep 9.2 per cent. ATF price in Delhi has been raised by Rs3,945.47 per kilolitre, or 9.2 per cent, to Rs46,729.48 per kilolitre.

This is the fourth straight monthly increase in rates on global cues.

The fuel price hike along with the higher service tax outgo due to an additional levy of Krishi Kayan cess starting today, will inflate prices further and increase the burden on the common man.