The public sector Indian Oil Corporation (IOC) today announced a marginal hike of 27 paise per litre in the price of its non-branded petrol in Delhi from midnight tonight in an effort to bring the prices to market parity.
In Delhi, the new price will be Rs 51.83 a litre against Rs 51.56 earlier. The price will go up from Rs 55.40 to Rs 55.69 in Kolkata, Rs 55.97 to Rs 56.25 in Mumbai and Rs 56.02 to Rs 56.31 in Chennai, IOC said.
Sources said the other state-owned oil marketing companies (OMCs) -- Hindustan Petroleum Corporation Limited and Bharat Petroleum Corporation Limited -- were also likely to follow suit in the next two or three days.
An IOC official said the hike had become necessary because of the rise in the prices of crude oil.
The Centre had in June freed the prices of petrol from government control and this is the first time since then that the OMCs have hiked prices.
The different OMCs are said to have decided to announce hikes on different days in order to avoid charges of acting as a cartel.
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