The hike, the third in one year, came a day after end of the Budget session of Parliament and Prime Minister Manmohan Singh speaking of the need to take "difficult decisions" on the third anniversary of UPA-II.
The decision of the oil marketing companies effective midnight tonight is the steepest hike in petrol price ever, the previous increase being Rs 5 per litre.
Petrol price in Delhi has been hiked by Rs 7.54 per litre to Rs 73.18 a litre. In Mumbai it will cost Rs 78.57 per litre as against Rs 70.66 a litre. In Kolkata, Rs 77.88 per litre and Chennai Rs 77.53 a litre.
Oil firms had twice raised rates by Rs 5 per litre - on May 15, 2011 when prices in Delhi were hiked from Rs 58.37 a litre to Rs 63.37 per litre and on May 24, 2008 when rates were raised to Rs 50.56 a litre.
The hike came under all round attack from political parties but significantly DMK, which is part of the government, sought its rollback.
Samajwadi Party, whose leader Mulayam Singh was the centre of attention at the UPA anniversary celebrations last night, also attacked the decision and demanded rollback.
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"I will ask for it," was DMK President M Karunanidhi's terse reply when reporters in Chennai wanted to know whether he will demand a rollback.
TMC Chief and West Bengal Chief Minister Mamata Banerjee, who had on earlier occasions threatened withdrawal of support on the issue of fuel price hike, reacted today saying, "the increase is unjust and unilateral".
Finance Minister Pranab Mukherjee maintained that the decision was taken by oil companies as petrol is a deregulated commodity. MORE