Petrol and diesel prices that remained unchanged for 48 days, saw a rate revision as state-run oil marketing companies hiked fuel prices.

New Delhi: Petrol and diesel prices that remained unchanged for 48 days, saw a rate revision on Friday, as state-run oil marketing companies hiked fuel prices.

Petrol and Diesel

Petrol prices were hiked by 17 paise to Rs 81.23 per litre in Delhi, while diesel prices were hiked by 22 paise to Rs 70.68 per litre. Rates differ from state to state depending on the incidence of VAT.

In September, diesel prices saw first reduction since mid-March when Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) froze rates for 82 days to adjust a record hike in excise duty.

Petrol and Diesel

Diesel rates had gone up by Rs 12.55 a litre between June 7, when oil firms resumed revising prices in line with cost, and July 25. Diesel price has remained unchanged in the country since July 25, except in Delhi where a reduction in VAT lowered the rate by Rs 8.38 per litre.

Petrol price went up by Rs 9.17 per litre between June 7 and June 29 before hitting a pause. The revision cycle again started on August 16 and rates have gone up by Rs 1.51 since then. In all, the petrol price has risen by Rs 10.68 since June 7.