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    Fuel prices: Petrol, diesel prices up by 40 paise; hike stands at Rs 8.40/litre in 2 weeks

    Fuel prices: Petrol, diesel prices up by 40 paise; hike stands at Rs 8.40/litre in 2 weeks

    Fuel prices: Petrol, diesel prices up by 40 paise; hike stands at Rs 8.40/litre in 2 weeks
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    By CNBCTV18.com  IST (Updated)

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    Petrol in Delhi will now cost Rs 103.81 per litre as against Rs 103.41 previously, while diesel rates have gone up from Rs 94.67 per litre to Rs 95.07, according to a price notification of state fuel retailers.

    Petrol and diesel prices were on Monday increased by 40 paise a litre, taking the total increase in rates in the last two weeks to Rs 8.40 per litre. Petrol in Delhi will now cost Rs 103.81 per litre as against Rs 103.41 previously, while diesel rates have gone up from Rs 94.67 per litre to Rs 95.07, according to a price notification of state fuel retailers.
    Rates have been increased across the country and vary from state to state, depending upon the incidence of local taxation. This is the 12th increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.
    In all, petrol prices have gone up by Rs 8.40 per litre.
    Rates have been increased across the country and vary from state to state depending upon the incidence of local taxation. Rates are also dependent on freight.
    Moody's Investors Services had last week stated that state retailers together lost around USD 2.25 billion (Rs 19,000 crore) in revenue for keeping petrol and diesel prices on hold during the election period.
    India is 85 percent dependent on imports for meeting its oil needs and so retail rates adjust accordingly to the global movement.
    -With PTI inputs
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