Petrol, Diesel Prices Hiked, Effective June 1

Elizabeth Williams
May 31, 2017

This comes in the wake of petrol prices being cut by as much as Rs 2.16/ litre and diesel by Rs 2.10/ litre pan-India as crude rates fell.

Oil Marketing Companies have raised the prices of petrol by Rs 1.23 per liter and diesel prices by 89 paise per liter in a bid to align the domestic rates of the two deregulated automobile fuels with the global price benchmarks. However, Oil and Gas Regulatory Authority (Ogra) had calculated increase in prices of LDO and kerosene oil by Rs9.28 and Rs13.54 per litre respectively.

However, the prices of Light Diesel Oil (LDO) and kerosene oil have been kept unchanged for month of June to provide relief to the consumers.

The new prices would come into effect after 12 am today.

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Now, the petrol will cost Delhiites 66.76 Rs/Ltr which was earlier Rs 65.53 per litre.

The rates of the two fuels were last revised on 16 May through a Rs 2.16 per liter cut in petrol prices and a Rs 2.10 per liter cut in diesel rates.

Dar highlighted that the government has absorbed significant impact of price increases since April 2016 and has suffered considerable loss of revenue, and has passed only partial increases since December 2016.

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