Prices of diesel meanwhile would be raised by 50 paise per litre once again, in line with the a decision to gradually raise prices every month to cut down on a subsidy burden.
The hike in petrol rates, the sixth increase in the last two months, comes after one on Aug 1 that raised prices by 70 paise per litre.
In Delhi, prices of petrol, after adding local taxes, will go up by Rs. 2.83 to Rs. 74.10 per litre while diesel would cost Rs 51.97.
In Mumbai petrol would cost be Rs 81.57 per litre and diesel would be Rs 58.86 per litre; in Kolkata petrol would be sold at Rs 81.57 per litre and diesel at Rs 56.33 per litre; and in Chennai petrol would cost Rs 77.48 per litre and diesel Rs 55.37 per litre.
Indian Oil, in a statement released on its website on Saturday, said that the hike is due to the combined impact of a constantly weak exchange rate and firm international oil prices.
"Currently, the INR-USD exchange rate continues to be extremely volatile. Also geopolitical situation in the Middle-East is leading to pressure on international oil prices as well," it said.
--IBNS (Posted on 31-08-2013)