Petroleum prices hiked

Petrol price was raised by 60 paise a litre, the second increase this year, and diesel by 50 paise per litre, the 14th hike since January 2013.
The increase in prices are excluding local sales tax, or VAT, and actual increase will be marginally higher and will vary from city to city. Petrol price, which was last raised by 91 paise on January 4, will cost Rs 73.16 a litre in Delhi, up 73 paise from Rs 72.43 at present. In Mumbai, the fuel will cost Rs 82.07 a litre as against Rs 81.31 at present. In Chennai it will cost Rs 76.48
The price of diesel in Delhi will be hiked by 57 paise, including tax, to Rs 55.48 per litre, while it will cost Rs 63.86 a litre in Mumbai against Rs 63.23 at present. In Chennai it will cost Rs 59.17 Announcing the price hike, IndianOil said petrol price has been raised because international oil rates have risen and rupee has depreciated against the dollar, making imports costlier. The diesel price increase is in line with the January 2013 decision of the government to raise rates by up to 50 paise per month till such time that the entire losses on the fuel are wiped out, and prices made market determined.