State-owned oil companies have announced a hike in petrol prices between 37 and 40 paise in the major cities, while diesel will be costlier by 37 to 44 paise with effect from midnight on Friday.

The oil companies said they were forced to raise prices because of further increase in prices of Indian crude oil basket to $29.94 per barrel during the second fortnight of January against $28.75 per barrel in the previous fortnight.

The oil companies said the hike in prices was moderate and the entire impact of increase in international prices has not been passed on to the consumers. However, the difference has been absorbed by the oil companies.

In Delhi, petrol will cost Rs 30.71 per litre as against Rs 30.33, an increase of 38 paise. Diesel would cost 37 paise higher at Rs 19.84.

In Mumbai, petrol touched a high of Rs 35.58 per litre against Rs 35.18 per litre. Diesel will be higher by 44 paise at Rs 25.16 per litre.

In Kolkata, petrol will be higher by 37 paise at Rs 32.21 per litre while diesel will be costlier by 37 paise at Rs 21.23 per litre.

In Chennai, petrol and diesel would be dearer by 40 paise each at Rs 33.39 and Rs 21.78 per litre, respectively.

An official announcement said that increase in other states would depend on the sales tax rates applicable in those states.

UNI