Better tank up, because come midnight today, petrol prices will be hiked by INR 3.13 a litre, while diesel prices will shoot up by INR 2.71, Press Trust of India reports.
This becomes the second price hike to be announced within the last 15 days – petrol and diesel prices were increased by INR 3.96 a litre and INR 2.37 a litre respectively on April 30.
Inclusive of the imminent hike, prices have now shot up by 7.09 a litre for petrol and INR 5.08 for diesel.
Prices of petrol in Delhi now stand at INR 66.29 a litre, up from INR 63.16, while diesel now costs INR 52.28 a litre in Delhi, effective from midnight.
State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.