Petrol price hiked by 36 paise/litre, diesel cut by 7 paise
Petrol will cost Rs 64.57 a litre in Delhi from Friday midnight and diesel will cost Rs 52.52 a litre.business Updated: Sep 30, 2016 23:41 IST
Petrol price was on Friday night hiked by 36 paise per litre, the third increase in two months, but that of diesel was cut by 7 paise per litre, keeping line with international market trends.
Petrol will cost Rs 64.57 a litre in Delhi from Friday midnight and diesel will cost Rs 52.52 a litre.
Indian Oil Corp (IOC), the nation’s largest fuel retailer, said petrol price is being hiked by 28 paise per litre (excluding state levies) and diesel rate is being cut by 6 paise (excluding state levies).
After including a VAT of 27% on petrol, the effective hike in petrol price in Delhi came to 36 paise a litre. In case of diesel, the cut came to 7 paise a litre after including VAT of 17.42%.
Petrol price was hiked by 58 paise, excluding state levies, on September 16. After including state VAT, the hike came to 78 paise per litre in Delhi. The rate of diesel was cut by 31 paise, excluding state levies (and 35 paise after including VAT in Delhi).
“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 price 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 INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
First Published: Sep 30, 2016 23:41 IST