In a jolt to consumers, oil marketing companies hiked the prices of petrol and diesel hours after the Union Budget was presented on Saturday.
In Delhi, the retail price of petrol would stand increased by Rs. 3.18 per litre with effect from midnight, Saturday. Diesel, on the other hand, would be dearer by Rs. 3.09 per litre in Delhi.
Both fuels would see corresponding price revisions in States across the country.
This is the second successive hike in the prices of petrol and diesel this month. The last revision, on Feb. 16, saw petrol prices increased by Re.0.82/ litre and diesel prices go up by Re.0.61/ litre.
“Since the above price revision, there has been further steep increase in international prices of both Petrol and Diesel. The rupee-US dollar exchange rate has also depreciated slightly during this period. The combined impact of both these factors warrants increase in Retail Selling Prices of both petrol and diesel,” Indian Oil said in a statement.
“The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” it said.
The Congress reacted sharply to the price rise, calling it a “steep shock”.
“Modi government has added insult to injury by first ignoring common man and farmers in the union budget and then giving them a steep shock,” party leader Randeep Surjewala said.
“”It is the arrogance of Acche Din,” he said.
Revised petrol prices
Revised diesel prices