Home > News > Jan 1st : Today Petrol price hiked by Rs 2.58 per litre & diesel by Rs 2.26 per litre

Jan 1st : Today Petrol price hiked by Rs 2.58 per litre & diesel by Rs 2.26 per litre

latest news on petrol price hike in india

Petrol and Diesel Price hiked again!Petrol price hiked by Rs 1.29 per litre today and this is the third time increasing in price in this month and Diesel price was increased by Rs 0.97 per litre and this is the second hike in this month regarding the Diesel rates.

This increase in the fuel rates announced by the oil firms is excluding the state levies and the actual hike will be higher than this. The actual and the final hike after considering the Value-added Tax (VAT) would be Rs 1.66 per litre and Rs 1.14 for Diesel in Delhi. The consequences of this hike will be effective from midnight of today.

Today Petrol price hiked by Rs 2.58 per litre & diesel by Rs 2.26 per litre

Petrol price hike today
Petrol price hike today

This is the consecutive third time in the hiking of Petrol price and the second time in the Diesel price. The Petrol price was on December 17th hiked by Rs 2.21 per litre and Diesel by Rs 1.79 per litre, excluding all the local levies. The actual hike after considering VAT came to Rs 2.84 per litre in Delhi for petrol and Rs 2.11 for diesel. After today’s hike, petrol in Delhi will now cost Rs 70.60 a litre from tomorrow as compared to Rs 68.94 which is the current price. In the similar way the Diesel rate can be seen as Rs 57.82 after the hike and it is Rs 56.68 the current price.

The major and the leading oil Companies Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise the rates on 1st and 16th of every month based on the average international price in the previous fortnight. In an statement the Indian oil Corp stated as “The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” It said the movement of prices in the international oil market and foreign exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes. The effect of this fuel hike will be seen from the midnight of Today.

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