New Delhi: Petrol price was marginally hiked on Wednesday by 5 paise a litre and diesel by Rs 1.26 a litre, the fourth increase in rates in six weeks.
Petrol will cost Rs 65.65 a litre in Delhi from midnight of Wednesday as compared to Rs 65.60 per litre currently, Indian Oil Corp, the nation’s largest fuel retailer announced. Similarly, diesel will cost Rs 55.19 per litre as against Rs 53.93 a litre currently. This is the fourth increase in auto fuel prices since May 1. Petrol price was last hiked by Rs 2.58 a litre on June 1 and diesel by Rs 2.26 a litre following oil prices crossing USD 50 per barrel mark.
Petrol prices in the four hikes have been raised by Rs 4.52 a litre, while diesel rates have gone up by Rs 7.72 per litre.
Barring an exemption on April 16, when price of petrol was cut by 74 paise a litre and diesel by Rs 1.30, the upward trend in rates has been a phenomenon since March 17.
Petrol price was increased by Rs 3.07 a litre on March 17 and Rs 2.19 per litre on April 4. In case of diesel, there were four straight hikes prior to that cut. The hikes totaled Rs 4.63 per litre.
After discounting the April 16 reduction, petrol prices have jumped by Rs 9.04 per litre since mid-March and diesel by Rs 11.05 per litre.