In one swift move, state-owned oil firms IOC , BPCL and HPCL hiked petrol price by Rs 6.28 per litre, effective midnight. Including sales tax, the hike adds up to Rs 7.50/litre.
The increase was on the cards with the rupee continuing its free fall against the US dollar, but the quantum of the hike took the country by surprise. However, diesel price has been left untouched though under-recoveries have been much sharper in that commodity as well as kerosene and LPG.
Petrol price in four metros now
Mumbai- 78.16/L (70.66/L)
Chennai-77.05/L(69.55/L)
New Delhi -73.14/L (65.64/L)
Kolkata – 77.53 (70.03)
But rates of diesel, kerosene and cooking gas have not been revised as a high-power ministerial panel headed by Finance Minister Pranab Mukherjee and having representatives of key UPA allies like TMC and DMK, hasn™t met for almost a year now.
Price of diesel, kerosene and cooking gas were last raised in June last year.
