Considering the weakening of the Indian currency against the dollar, state-run oil marketing companies (OMCs) raised the price of petrol by Rs 2 a litre recently.
This is the second increase in the price of the auto fuel this month as the cost of crude oil import has risen following the depreciation of rupee. On June 1, OMCs raised price of petrol by 75 paisa, excluding VAT.
Since the last hike in petrol price, the rupee-dollar exchange rate declined from Rs 55.32 to Rs 57.08 per dollar, said Indian Oil Corp, the nation’s largest oil firm.
IOC said international petrol prices have also hardened during this period.
The Rs 2 a litre hike is excluding local sales tax or VAT and actual increase for consumers will be higher.
In Delhi, the price of petrol rose Rs 2.40 a litre to Rs 66.39 from Rs 63.99 previously.
In Mumbai, petrol price has been increased by Rs. 2.52 to Rs 74.60 while in Kolkata rates went up from Rs 71.29 to Rs 73.79 per litre. In Chennai, prices rose Rs 2.54 to Rs 69.39.
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