Oil companies and government has take a decision a week sooner than we expected. The price of Petrol have been hiked across India by Rs 6.28 per litre, effective midnight. Including sales tax, the hike adds up to Rs 7.50/litre.
The price of petrol hike across 4 metros as follows –
Petrol Price Hike in Delhi is Rs. 73.14 per Litre
Petrol Price Hike in Mumbai is Rs. 78.16 per Litre
Petrol Price Hike in Kolkata is Rs. 77.53 per Litre
Petrol Price Hike in Chennai is Rs. 77.05 per Litre
Petrol Price Hike in Bengaluru is Rs. 81.01 per Litre
This huge price increase which is over 10% hike in the price has come in the wake of weakening Indian Rupee against US dollar and price change in the International crude oil prices since the last change in December 2011.
PK Goyal, Director - Finance, IOC says IOC is losing Rs 13.64 on per litre of diesel. From April 1 to May 31 Indian Oil has already lost Rs 10,680 crore under recovery on this and industry has already incurred a under recovery of Rs 20, 260 crore on diesel itself,"