Petrol, diesel prices increase by Rs 1.50 a litre

New Delhi, Nov 13: Prices of petrol and diesel were on Thursday increased by Rs 1.50 a litre after the government raised excise duty on both the fuels to mop up an additional revenue of Rs. 13,000 crore. The drop in global oil prices resulted in six consecutive reductions in petrol prices since August and two in diesel in the last one month. There was a possibility of another round of cuts this weekend. However, the possible reduction has now been negated as the the central government had decided to increase excise duty to shore up its revenue.