Petrol & diesel prices to go up from midnight
Last Updated at
- 07:02 pm, February 15, 2013
The cost of petrol has been hiked by Rs 1.50 per litre and diesel by Rs 0.45 per litre.
Oil marketing companies (OMCs) have yet again, decided to bring in a hike to the cost of petrol and diesel prices in India. This time, the cost of petrol will go up by Rs 1.50 per litre, while the cost of diesel will go up by Rs 0.45 per litre. The revision in fuel prices will be put into effective from midnight.
The price hikes are the 20th for petrol since the fuel was deregulated. Under deregulation, oil firms are free to decide the quantum and the frequency of a price hike. Since petrol prices were decontrolled in June 2010, they have been revised 27 times (increased 19 times and decreased eight times).
The last revision in petrol and diesel prices happened on January 17 when the price of petrol was reduced by about 29 paisa per litre and that of diesel was hiked by about 50 paisa per litre.
The Union Cabinet earlier permitted the three public sector oil marketing firms - IndianOil, Hindustan Petroleum and Bharat Petroleum - to revise diesel prices by a small quantum every month.
First Published on 06:56 pm, February 15, 2013
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