State-run Indian Oil Corporation on Wednesday announced a hike of Rs. 2.96 a litre in petrol prices, effective from midnight.
The oil marketing companies (OMCs) also hiked the Aviation Turbine Fuel (ATF) rates by 3.6 per cent, a move that could make air travel costlier.
Bharat Petroleum Corporation Limited (BPCL) had on Tuesday announced an increase of Rs. 2.95 a litre in petrol prices.
Hindustan Petroleum Corporation Limited (HPCL), the third state fuel retailer, also hiked petrol prices by Rs. 2.94 a litre, effective from Thursday.
Petrol at IOC bunks in Delhi will now cost Rs. 55.87. HPCL will sell fuel at Rs. 55.85 a litre, and BPCL at Rs. 55.86.
The jet fuel prices will cost Rs. 46,876.58 a kilolitre, making it the fifth increase in a row since October, when international crude oil prices started climbing.
ATF rates in Delhi have been hiked by Rs. 1,636.58 a kilolitre.
Earlier, on December 1, jet fuel price was raised by 1.4 per cent followed by a massive 5.5 per cent increase on November 16, in tune with the rise in global rates.
Jet fuel will cost Rs. 47084.40 per kilolitre in Mumbai from Thursday, as against Rs. 45,379.62 per kilolitre currently.
In Kolkata, the ATF price has been hiked by Rs, 1,731.84 to Rs. 54183.98 a kilolitre, while in Chennai, it will cost Rs. 50269.99 a kilolitre against the present Rs. 48,496.70.
Pranab justifies hike
Kolkata Special Correspondent writes:
A rise in the prices of crude oil in the international market led to the hike in petrol price, Union Finance Minister Pranab Mukherjee said here on Wednesday.
“The price of crude oil in the international market has risen to $90 per barrel. The hike in petrol prices (in the country) was in parity with international prices,” he told journalists.
BJP, CPI(M) criticism
New Delhi Special Correspondent reports:
The Bharatiya Janata Party and the Communist Party of India (Marxist) on Wednesday criticised the move by the oil companies to increase the petrol price.
While the BJP demanded the withdrawal of the hike, the CPI(M) said it would launch protests against the increase.
The BJP disputed the argument by the government that the increase was necessitated by the rise in crude prices in the international market.
In a statement, the CPI(M) Polit Bureau strongly condemned the hike and described it as a “vicious attack” on the people who were already suffering from price rise and inflation.
