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Our Bureau

New Delhi , July 31

PUBLIC sector oil marketing companies on Saturday increased petrol and diesel prices by around Rs 1.15 and Rs 1.55 a litre respectively. The increase is in line with the rise in global fuel prices.

The new prices will come into effect from Saturday midnight. This is the first price revision that is being exercised by the oil companies in a non-ad hoc manner and without having to seek the Government's ratification.

The price rise is being carried out under the limited freedom accorded to oil companies to fix prices within a 10 per cent band of the three-month as well as one-year average of global product prices.

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