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For the third time in this month, petrol price has been hiked by ₹1.82 per litre, excluding Value Added Tax (VAT). It will be effective from midnight of 28th / 29th June 2013.

The fuel price was hiked by ₹0.75 per litre on 1 June and ₹2 per litre on 15 June. The third hike is due to the fall in the value of rupee and rising price of fuel in international market, state-run Indian Oil Corporation (IOC) said.

"Since last price change, the downwards slide of Rupee has continued and USD-INR exchange rate has deteriorated from Rs. 57.08/USD to Rs. 58.94/USD during the fortnight," IOC said in a news release.

"Further, international MS prices have also increased from $113.84/bbl to $115.29/bbl since last price change. The combined impact of both these factors, predominantly of Rupee depreciation, has warranted the increase in MS prices by Rs. 1.82/litre (excl. VAT)."

Here is the revised prices of one litre petrol in all four major cities

Cities        Current Price     Revised Price     Hike by

Delhi            ₹66.39                 ₹68.58              ₹2.19

Kolkata        ₹73.79                 ₹76.10              ₹2.31

Mumbai       ₹74.60                 ₹76.90               ₹2.30   

Chennai       ₹69.39                 ₹71.71              ₹2.32

Diesel Prices Hike

Diesel prices are also likely to be hiked by 40-50 paisa per litre early next week. The government had earlier authorised state-owned oil firms to increase the price of diesel by 50 paise per litre every month until the entire losses on the fuel are wiped out, according to a Press Trust of India report. Since January, the diesel prices have been hiked every month. The last hike was done on 1 June. The next hike is expected in the first week of July.