SRINAGAR: Oil marketing companies have hiked petrol prices by 75 paisa a litre and diesel prices by 50 paisa a litre, the Times of India reports.
In Kashmir, petrol will now cost approximately 69 INR.
This is due to depreciating Indian rupee, which hit 10 month low, making the import of crude oil costlier.
The hike comes after four consecutive times reduction in petrol prices by cumulative Rs 6.60 a litre since April 1.
The management of Indian Oil Corporation (IOC), Hindustan Petroleum Corp ( HPCL) & Bharat Petroleum Corp ( BPCL) in a meeting in New Delhi decided on the revision in the petrol and diesel prices, which was approved by the oil ministry.
The OMCs had reduced the petrol prices by Rs 3 per litre on May 1, Rs 1.20 per litre on April 16, Re 1 on April 1 and Rs. 2.40 on March 16, 2013.
