Petrol price hiked by Rs. 1.82 per litre

New Delhi: Petrol prices will go up by Rs 1.82 per litre, from Friday midnight due to the fall in the value of the rupee and hardening of crude prices in international market..

This is the third increase in petrol prices this month. The fuel price was hiked by Rs 0.75 per litre on June 1, 2013 and Rs 2 per litre on June 15, 2013.

According to IOC, the depreciating rupee coupled with high international MS (motor spirit) prices have also resulted in rise of under-recovery incurred on sale of sensitive products like diesel, LPG (Liquefied petroleum gas) cylinder and kerosene.

“Estimated under-recovery of the corporation (IOC) on sale of these three sensitive products is expected to be around Rs.63,000 crore for the fiscal 2013-14,” it added.