Petrol price hiked by 1 paisa, diesel by 44 paisa a litre
Indian Oil Corp (IOC), the nation’s largest fuel retailer, said the price of petrol is being increased by Rs 0.01 per litre and that of diesel by Rs 0.44 -- both excluding state levies.business Updated: May 01, 2017 01:44 IST
Petrol price was hiked on Sunday by a marginal 1 paisa per litre and diesel by 44 paisa a litre, the second increase in rates this month.
The hike, which will be effective from midnight on Sunday, comes on the back of Rs 1.39 per litre increase in petrol and Rs 1.04 a litre raise in diesel rates effected from April 16.
Indian Oil Corp (IOC), the nation’s largest fuel retailer, said the price of petrol is being increased by Rs 0.01 per litre and that of diesel by Rs 0.44 -- both excluding state levies.
Actual increase in price will be more after taking into account local VAT.
In Delhi, the price of petrol went up from Rs 68.07 per litre to Rs 68.09 while that of diesel from Rs 56.83 to Rs 57.35 a litre.
“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.
The movement of prices in the international oil market and INR-USD exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said.