Saturday, December 21
Petrol price hiked by 70 paise per litre, diesel by 50 paise
www.mangaloretoday.com
New Delhi, July 31, 2013: Oil companies today hiked the price of petrol by 70 paise per litre, without taxes. The price of diesel was also raised by 50 paise per litre without taxes. The new prices will take effect from Wednesday midnight.
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.
Before this, petrol prices were hiked by Rs. 1.55 a litre on July 14 as the currency had hit a record low of 61.21 on July 8. The rupee, which plays an important role in the price of the fuel, closed at 60.40 on Wednesday
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