Petrol price was today hiked by a steep Rs 1.82 a litre, the third increase in rates this month, as falling rupee made imports costlier.
This is the third increase in petrol prices this month. The fuel price was hiked by Rs.0.75 per litre June 1, and Rs.2 per litre June 15.
Allowing for local taxes, the new price of petrol per litre will be Rs.68.58 in Delhi, Rs.76.10 in Kolkata, Rs.76.90 in Mumbai and Rs.71.71 in Chennai.
According to IOC, the depreciating rupee coupled with high international MS (motor spirit) prices have also resulted in the rise of under-recoveries incurred on the sale of sensitive products like diesel, LPG (liquefied petroleum gas) and kerosene.
"Estimated under-recovery of the corporation (IOC) on sale of these three sensitive products is expected to be around Rs.63,000 crore for the fiscal 2013-14," it added.u00a0
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