Petrol, diesel price hiked again

New Delhi/Thiruvananthapuram: Petrol price on Saturday was hiked by 30 paise a litre and diesel by 37 paise per litre as domestic fuel prices witnessed possibly the largest rally in rates.

The price of petrol in Thiruvananthapuram rose to its highest-ever level of Rs 106.08 a litre and to Rs 104.47 per litre in Kochi.

Diesel rates too touched a record high of Rs 99.45 in Thiruvananthapuram and inched closer to the Rs 100-a-litre mark in Kochi. It currently costs Rs 97.78 a litre in Kochi.

Petrol costs Rs 104.47 and diesel costs Rs 97.78 in Kozhikode city.

Prices differ from state to state depending on the incidence of local taxes.

Shedding its modest price change policy, state-owned fuel retailers have since Wednesday started passing on the larger incidence of cost to consumers. For three days in a row, petrol price has been hiked by 30 paise a litre and diesel by 35 paise - the biggest rally in rates.

Being a net importer of oil, India prices petrol and diesel at rates equivalent to international prices.

In last two weeks, diesel rates have gone up by Rs 3.79 per litre and petrol price has increased by Rs 2.67.

Fuel prices in the country have been hovering at record levels on account of 42 increases in its retail rates since April this year. It fell on few occasions but largely remained stable.

(With PTI inputs)

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