Petrol price hiked by 13 paise per litre, diesel prices cut by 12 paise | business-news | Hindustan Times
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Petrol price hiked by 13 paise per litre, diesel prices cut by 12 paise

business Updated: Dec 01, 2016 06:43 IST
Petrol prices

Fuel prices have been fluctuating in line with varying global trends.(File Photo)

The price of petrol was hiked on Wednesday by a marginal 13 paisa per litre while diesel rates were cut by 12 paisa in line with global trends.

The revision in rates, announced by Indian Oil Corp (IOC), the nation’s biggest fuel retailer, excludes state levies (VAT) and the actual change is likely to be higher.

Petrol in Delhi will cost Rs 66.10 a litre from Wednesday midnight, 17 paisa more than Rs 65.93 per litre currently.

Similarly, a litre of diesel will cost Rs 54.57, 14 paisa lower than the current Rs 54.71/ litre.

Prices were last revised on November 16 when petrol rates went up by Rs 1.46 for every litre and diesel by Rs 1.53 per litre, excluding state levies.

“The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant increase in selling price of petrol and decrease in selling prices of diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.

It said the movement of prices in the international oil market and rupee-dollar exchange rate will be monitored closely and developing trends of the market will be reflected in future price changes.