State-owned oil companies affected yet another steep hike in petrol price, by Rs 1.80 per litre. It was affected from midnight last night.

Petrol price in Delhi costs Rs 68.64 per litre, up from Rs 66.64 a litre. The retail selling price in different cities varied according to the local sales tax.

BPCL Chairman and Managing Director R K Singh told PTI his company was forced to increase prices because of rupee depreciation.

Sources said that the heads of three oil companies —IOC, BPCL and HPCL met in New Delhi on Thursday to decide on the price hike.

This is the second hike in petrol prices in less than two months and it came on a day when the food inflation rose “dangerously” to 12.21 per cent for the week ended October 22.

The government had in June last year deregulated or freed petrol from all price controls but the retail rates have not moved in line with cost as high inflation rate forced the oil companies to seek 'advice' from parent Oil Ministry before revising rates.