The Maharashtra government reduced petrol and diesel prices by Rs 2 and Rs 1 respectively
In Kolkata, Mumbai and Chennai, petrol was sold at Rs 75.13, Rs 80.30 and Rs 75.12 per litre respectively, also at 3-year high
Diesel price has increased by Rs 3.67 a litre and now costs Rs 57.03 a litre in Delhi in same period
Petrol in Delhi now costs Rs 71.14 a litre as against Rs 65.93 in end November
After the hike, petrol in Delhi will cost Rs 68.94 per litre from midnight tonight and a litre of diesel will cost Rs 56.68
Indian Oil Corp, Hindustan Petroleum Corp Ltd and Bharat Petroleum Corp Ltd have reportedly been asked to absorb up to Re 1 a litre hike
In Kolkata, Mumbai and Chennai too, prices climbed to new multi-year highs at Rs 76.78, Rs 81.93 and Rs 76.85 per litre respectively, Indian Oil website said
This is the seventh straight day of petrol price increase since oil PSUs on May 14 resumed daily price revision after a 19-day pre-Karnataka poll hiatus
India is particularly at risk from stronger global prices for crude oil as it is the No.3 importer of the commodity
BJP president Amit Shah on Tuesday said government is taking the issue of rising petroleum prices seriously and will soon announce measures to deal with the matter
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The reduction comes after 16 consecutive price increases since May 14 when fuel retailers ended a 19-day pre-Karnataka poll hiatus to pass on a spike in global oil rates
The increase pushed diesel price to its highest ever level of Rs 69.46 a litre in Delhi. In Mumbai, the fuel now costs Rs 73.74 a litre
Petrol and diesel prices Tuesday touched fresh highs as rupee dipped to a record low of 71.54 against US dollar, making imports costlier
The government does not want to take any populist measures - and derail the fiscal deficit target - in an election year
This is the second increase in petrol rates this month, while in case of diesel it wipes away a part of the hike effected earlier this month
The hike will be effective from midnight tonight
Post the price revision, to be effective tonight, petrol will be priced at Rs 64.76 including state taxes in Delhi while diesel will be priced at Rs 54.70 per liter
She said the price hike will lead to increase in prices of essential commodities
Movement of prices in the international oil market and the Rupee-Dollar exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price change