Petrol cost was on January 15 reduce by 32 paise diesel and a litre is by 85 paise the next decrease in charges in six months about the back of softening worldwide gas costs, a litre.
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Petrol per litre from Saturday will cost Rs.59.03 in Delhi, Rs.64.87 in Kolkata, Rs.66.09 in Mumbai and Rs.59.45 in Chennai. Rates were on that day cut by 58 paise a litre in case of petrol and by 25 paise in diesel.
The government today raised the excise duty on petrol by 75 paise per litre and by Rs 2 a litre on diesel – the fourth hike this fiscal and the second increase in less than two weeks – to mop up over Rs 3,700 crore in additional revenues. “Had the NDA government decided not to hike the customs duty on petrol and diesel since November 2014, the prices of both oils would have been lesser by Rs 10.77 and Rs 12.07 respectively now”, the Chief Minister said in a statement here.
With this change, the price of Petrol in Delhi will become Rs. 59.03/litre, read a statement issued by state-run Indian Oil Corporation Ltd. (IOC).
On 1 January, petrol price was cut by 63 paise per litre and that of diesel by Rs1.
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India’s three state-controlled oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to adjust retail prices for their fuels in concert. Ltd revise rates of petrol and diesel on the 1st and 16th of every month based on average oil price and foreign exchange rate in the preceding fortnight.
