New Delhi, November 5 (agencies): Petrol price hiked by 89 paise per litre, diesel by 86 paise per litre from midnight tonight. On October 15, petrol price was hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates. The hike announced by oil companies is excluding state levies. After including local VAT, petrol will now cost Rs 66.05 a litre in Delhi from midnight tonight as against Rs 64.72 per litre currently. Diesel will cost Rs 55.26 per litre as against Rs 52.61 a litre at present. The price of petrol was last hiked by 14 paise per litre and that of diesel by 10 paise a litre on October 5, following an increase in commission paid to dealers. Prior to that petrol price had been hiked on three occasions while diesel price was cut by 8 paise a litre on October 1. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said.
