petrol diesel price hike
An employee counts Indian currency at a fuel station in Mumbai June 25, 2010. [Representational Image]Reuters

In its consecutive third increase on petrol prices, the government on Monday hiked petrol rates by 64 paisa and slashed diesel prices by ₹1.35 per litre.

The revised rates will be effective from 12am on 16 June, PTI reported.

With the new price, petrol in national capital Delhi will cost ₹66.93 per litre instead of ₹66.29 at present. In Mumbai, petrol will be expensive by ₹74.76 per litre against the earlier ₹74.12 per litre. 

Bangaloreans will have to pay ₹73.58 starting 16 June against the previous ₹72.94.

Metro Cities New Rates Previous Rates
New Delhi ₹66.93 ₹66.29
Mumbai ₹74.76 ₹74.12
Bengaluru ₹73.58 ₹72.94.

The last revision in petrol prices had taken place on 16 May, exactly a month back, when the government hiked the rates of petrol by ₹3.13 a litre and diesel by ₹2.71 per litre.

Prior to 16 May revision, price of petrol was raised by ₹3.96 on 1 May and diesel was hiked by ₹2.37.

"Since last price change, there has been an increase in international prices of petrol while international prices of diesel have shown a downward trend.

"Indian rupee-US dollar exchange rate has depreciated during this period. Combined impact of these factors warrant an upward revision in prices of petrol and a downward revision in prices of diesel, the impact of which is being passed on to the consumers with this price change," IOC said in a statement.