State run oil marketing companies (OMCs) have hiked petrol price by Rs. 2.35 a litre and diesel by 50 paise a litre because of falling rupee and rising international crude oil prices.The actual hike, including local sales tax or VAT,it will be higher and will vary from city to city.
In Chennai,Petrol price hiked by Rs. 2.99 to cost Rs. 77.48 a litre and diesel price hiked by 61 paise to cost Rs. 55.37 a litre. The new price will be effective from midnight on Saturday.