NEW DELHI: Oil companies today hiked petrol price by Rs 2.21 per litre and diesel by Rs 1.79 per litre effective midnight.
Petrol in Delhi currently costs Rs 68.94 a litre and diesel Rs 56.68.
The new rates will be effective from midnight.
Rates were last revised on December 1 when petrol price was hiked by a marginal 13 paise a litre, but diesel rates were cut by 12 paise.
IOC Chairman B Ashok justified the deferment move, saying “it is not compulsory” to change rates on a particular date. Prior to the December 1 price change, rates were hiked by Rs 1.46 a litre in the case of petrol and Rs 1.53 per litre for diesel, excluding local levies, on November 16.
Industry sources said the deferment may be for a day or two as Parliament is in session and any hike would have added to the discomfort for the government, particularly when it is facing heat over hardships caused by currency demonetisation.