Economy

Petrol price hiked by Rs 1.34 a litre, diesel by Rs 2.37

K. R. Srivats New Delhi | Updated on January 16, 2018 Published on October 15, 2016

Petrol drips from a gasoline pump at a petrol station in London in this January 19, 2011, file photo. Brent crude oil prices hit $108 a barrel for the first time since 2008 on Monday on fears that spiraling violence in Libya could lead to wider supply disruptions from the OPEC member. REUTERS/Bernadett Szabo (BRITAIN - Tags: BUSINESS ENVIRONMENT POLITICS ENERGY)

Indian Oil Corporation (IOC) on Saturday announced price hike in petrol and diesel sales across the country with effect from midnight of October 15/16.

While the selling price of petrol has been increased by ₹ 1.34 a litre (excluding state levies), the diesel prices have been raised by ₹2.37 a litre (excluding State levies), a company statement said.

The current level of International product prices of Petrol and diesel and INR-USD exchange rate warrant increase in selling price of these products, the impact of which is being passed on to the consumers with this price revision.

PTI reports:

After including local VAT, petrol will now cost Rs 66.05 a litre in Delhi from midnight tonight as against Rs 64.72 per litre currently. Diesel will cost Rs 55.26 per litre as against Rs 52.61 a litre at present.

The price of petrol was last hiked by 14 paise per litre and that of diesel by 10 paise a litre on October 5, following an increase in commission paid to dealers.

Prior to that petrol price had been hiked on three occasions while diesel price was cut by 8 paise a litre on October 1.

Published on October 15, 2016
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