Fuel prices have been increased again with effect from midnight yesterday (10) according to the pricing formula.
The price of a liter of 92 Octane Petrol sold by Ceypetco has been increased by Rs 6, and the retail price has increased from Rs 149 to Rs 155.
95 Octane Petrol, previously sold at a price of Rs 161, has been increased by Rs 8. The new price is Rs 169.
The price of a liter of Super Diesel, previously sold at Rs 133, has been increased by Rs 8, and the new price is Rs 141.
Although the price of Diesel must be increased by Rs 11 according to the pricing formula, since the price hike may negatively affect transportation and fisheries industries, the government has decided not to increase Diesel price, Finance Ministry said. Price of a liter of Diesel, therefore, will remain Rs 123.
With this price hike, the Indian Oil Corporation (IOC) has also increased fuel prices.
IOC has increased the prices of 92 Octane Petrol and 95 Octane Petrol to Rs 155 and Rs 172 respectively.
The new price of a liter of Diesel is Rs 129; and Super Diesel is now sold at a price of Rs 141.
The government introduced the pricing formula on 9th May to determine domestic fuel prices according to the fuel prices in the world market. On 10th of every month, the fuel prices are revised.