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Petrol price hiked by 36 paise/litre, diesel by 87 paise/litre

Petrol and diesel prices were hiked by 36 paise/litre and 87 paise/litre, respectively, effective midnight.

business Updated: Nov 15, 2015 19:34 IST
Petrol price,Diesel,Price hike
The two consecutive hikes in petrol and diesel prices have wiped away more than one-third of the gains that had accrued to consumers when global rates began to fall in August last year.(File Photo)

State-run Indian Oil Corp on Sunday announced a hike in the price of petrol by 36 paise a litre and of diesel by 87 paise in Delhi, effective midnight.

The petrol and diesel rates will experience a corresponding increase in other states, the announcement said.

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision,” Indian Oil said in a statement.

The oil marketer said the price of petrol per litre from Monday will be Rs 61.06 in Delhi, Rs.66.39 in Kolkata, Rs 68.13 in Mumbai and Rs 61.38 in Chennai.

Diesel will cost Rs 46.80 a litre in Delhi, Rs 50.29 in Kolkata, Rs 54.04 in Mumbai and Rs.48.00 in Chennai.

The Indian basket of crude oil closed trading on Thursday at $42.41 a barrel. The figures for Friday will be available on Monday.

State-owned fuel retailers -- Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) -- revise petrol and diesel prices on the 1st and in the middle of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.

First Published: Nov 15, 2015 18:15 IST