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Petrol Price Hiked By Rs 2.54/Liter

NEW DELHI, Jan 15: State-owned oil companies on Saturday raised petrol prices by Rs 2.50-Rs 2.54 per liter, the second hike in a month, on back of rising crude oil prices.

Indian Oil Corp, the nation’s largest fuel retailer, will raise petrol prices by Rs 2.50 per liter with effect from midnight on Saturday night, while Hindustan Petroleum Corp Ltd would hike rates by Rs 2.54 a liter, an industry official said.

Bharat Petroleum Corp, the third state fuel retailer, would raise price by Rs 2.53 per liter with effect from midnight on Saturday. The three firms from on December 15-16 raised petrol prices by Rs 2.94-2.96 per liter, the biggest hike in six months.

Petrol at IOC outlets in Delhi now costs 55.87 per liter and from Sunday it will be priced at Rs 58.37 a liter.

The fuel at HPCL and BPCL pumps would be sold at Rs 58.39 per liter from Sunday.

Petrol at HPCL pumps at present costs Rs 55.85 per liter while it is priced at Rs 55.86 a liter at BPCL fuel bunks.

The official said the increase follows international crude oil prices climbing to USD 92 per barrel.

The state-run retailers are deliberately adopting marginally different rates to avoid being accused of acting as a cartel in the free market.

The government had freed petrol prices in June this year, but the state firms, which control 98 per cent of the retail market, continue to informally consult the oil ministry before revising prices.

With regard to Manipur, petrol at fuel outlets of Imphal and Churachandpur district will be Rs 57.30 while at Jiribam it will be Rs 57.54. For other districts the rate will be the same as that of Imphal.

Rate of X-tra premium (petrol) will be costlier by Rs 2.50 per liter, said an IOC source while informing that there will be no change in the price of diesel.

(Courtesy: Press Trust of India)

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