The Hindu Business Line : Private oil retailers raise petrol, diesel prices

New Delhi, Feb. 19 Reliance Industries Ltd (RIL) and Essar Oil Ltd have raised the retail selling prices of auto fuels – petrol and diesel – sold by them. The private sector retailers have increased the price of petrol by Rs 2 a litre and diesel by Re 1 per litre.

Officials of the two companies said that the hike was in line with recent increase announced for the public sector oil marketing companies on February 14. The Government had increased the petrol and diesel prices by Rs 2 and Re 1 respectively.

Private sector retailers also increased the prices effective midnight of February 14.

“This increase was done the same day when Government increased the prices. With this increase, we will continue to maintain a differential between the prices of PSUs and us,” the officials said.

Both RIL and Essar sell petrol and diesel at a premium ranging from Rs 3-5 a litre compared with the prices of the PSUs oil marketing companies – Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation.

The revised price of petrol sold by PSU retailers is Rs 45.52 a litre in Delhi and Rs 50.51 per litre in Mumbai. The price of diesel has been raised to Rs 31.76 per litre in Delhi and Rs 36.08 a litre in Mumbai.

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