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Petrol price hiked by 55 paise/liter, diesel by 60 paise

11th straight day of increase increase in rates

New Delhi, June 17 | Marking the 11th consecutive day of increase in rates, Petrol price hiked by 55 paise per liter and diesel by 60 paise a liter that now totals to Rs 6.02 for petrol and Rs 6.4 for diesel.

Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

This is the 11th straight day of increase in rates since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus in rate revision.

The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) instead of passing on the excise duty hikes to customers adjusted them against the fall in the retail rates that was warranted because of fall in international oil prices.

In 11 hikes, the petrol price has gone up by Rs 6.02 per liter and diesel by Rs 6.4 a liter.

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