Enjoying the freedom to hike the Petrol rate, the state-owned oil companies has been hiked the price of fuel by Rs. 1.50 per litre and diesel by 45 paise a litre.
The new rate of fuel with excluding local sales tax or VAT will be in effect from midnight on Friday, sources said.
However, the price would be more for customers after the incidence of duty is included.
It is for the second time after within one month that diesel rates exclude VAT has been increased, while Petrol whose actual price for consumers would be more at petrol pumps has revised after three-and-a-half months.
State Oil Companies claimed that the increase in fuel hit as international benchmark oil prices climbed 7.5 percent.
As per revised step the Petrol rate in Delhi would be Rs. 69.05 per litre after including 19 percent VAT, while Diesel rates would cost a hike of 51 paise to Rs 48.16 a litre.
Earlier, the government granted freedom to oil firms to raise diesel prices in small monthly dozes to totally eliminate all of the losses on the fuel is over Rs 10 a litre.
Meanwhile, it has been said that oil firms will continue their decision of hike to lose Rs 10.27 a litre on diesel due to the cost of raw material has high more.
