Approximately five months ago this kind of hike happened and now this is the first time petrol price increasing in five months and diesel is the third time since October.
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Slamming the latest hike in prices of diesel and petrol by Oil Marketing Companies, Tamil Nadu Chief Minister J Jayalalithaa today said while the Centre was getting revenue by revising excise duty, it was passing the burden on the common man which was “an unjust act”.
Diesel prices were reduced on 1 September by 50 paise a litre.
India’s three state-controlled oil companies, IOC, Bharat Petroleum Corp Ltd and Hindustan Petroleum Corp Ltd, tend to move retail prices for their fuels in concert.
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“The movement of prices in the worldwide oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes”, it added.
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The central government owned Indian Oil Corporation on November 15 announced hike in petrol and diesel prices. Diesel will cost Rs.46.80 a litre in Delhi, Rs.50.29 in Kolkata, Rs.54.04 in Mumbai and Rs.48.00 in Chennai. From Monday, a litre of diesel cost Rs. 46.80/- will be run as compared to current rate Rs. 45.93 per litre.
