Oil Marketing Companies have hiked the prices of petrol ranging from 70 paise to 91 paise a litre across the country from midnight last night.
The increase is necessiated due to a rise in the international prices of crude which was hovering around 101 dollars a barrel and the mounting value of Rupee against the US Dollar which was around Rs 55.36 a USD. The IOC had accumulated a loss of Rs 1,053 crore and the OMCs had accumulated a deficit of Rs 2,323 crore.
With the hike, petrol will cost 70 paise more in Delhi, 88 paise more in Mumbai, 89 paise more in Chennai, 87 paise more in Kolkata and 91 paise more in Hyderabad and Bangalore.
—-UNI