Petrol price was today hiked by Rs 1.06 per litre and diesel by Rs 2.94 a litre.
Petrol in Delhi will cost Rs 62.19 per litre from midnight tonight as against Rs 61.13 currently, said Indian Oil Corporation, the nation’s largest fuel retailer.
Similarly, a litre of diesel will cost Rs 50.95 compared to Rs 48.01 at present.
The hike comes on back of Rs 0.74 per litre cut in petrol price and diesel by Rs 1.30 a litre on April 16.
“The current level of international product prices of petrol and diesel and the rupee-US Dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” the IOC said.
State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on the average oil price and the foreign exchange rate in the preceding fortnight.
“The movement of prices in the international oil market and the rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” the company added.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.