Petrol price hiked by Rs. 1.55 per litre

New Delhi: Petrol price was on Sunday hiked by a steep Rs 1.55 a litre, the fourth increase in rates in six weeks.

This is the fourth increase in rates since June. Oil firms had on June 1 raised prices by 75 paisa, excluding VAT, and followed it with a Rs 2 per litre increase on June 16 and a Rs 1.82 on June 29.

The revision in prices, as per the practice of changing rates in line with cost every fortnight, was due on Tuesday July 16 but will be raised a day earlier.

However, there will be no change in diesel prices just yet as the revision in its rates is due at the month end. With the latest increase, all of the gains made from four reductions in prices earlier this year had been neutralized. The rates cuts had brought down the price to Rs 63.01 at the beginning of May.

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