Petrol prices hiked by Rs 2 per litre, excluding VAT - Zee News

Zee Media Bureau New Delhi: Oil marketing companies have decided to increase petrol prices by up to Rs 2 per litre, excluding VAT, on Saturday as the weakening rupee is making oil imports costlier. As per the practice of revising rates every fortnight, petrol price revision will be effective from midnight and the increased prices will come into effect from June 16, sources said. Petrol price was last hiked by 75 paisa per litre and diesel by 50 paisa a litre on May 31. State-owned oil firms had been in January authorised to raise diesel prices by up to 50 paisa per litre every month till entire losses on the fuel are wiped out. Petrol price in Delhi is currently at Rs 63.99 a litre. The Indian rupee ended a tough week Friday that saw the currency slump to a record low as part of a broader regional market sell-off. The r upee fell 0.8 percent for the week, its sixth consecutive weekly loss, having hit a record low of 58.98 on Tuesday. With Agency Inputs First Published: Saturday, June 15, 2013, 11:28 via Top Stories - Google News http://news.google.com/news/url?sa=t&fd=R&usg=AFQjCNHeDEroy-2O770MXrt7EKj0UsjhdQ&url=http://zeenews.india.com/business/news/economy/petrol-prices-hiked-by-rs-2-per-litre-excluding-vat_78082.html

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