New Delhi: Price of petrol was on Monday raised by Rs 2.19 per litre while that of diesel price was increased by 98 paise per litre. Revised prices will take effect from midnight.
After this revision, a litre of petrol will cost Rs 61.87 in Delhi as against Rs 59.68 currently whereas diesel will retail at Rs 49.31/litre instead of Rs 48.33/litre, said Indian Oil Corporation (IOC), the country’s largest fuel retailer. Fuel prices were last revised on March 16 when petrol was made more expensive by Rs 3.07/litre and diesel by Rs 1.90/litre.
Petrol and diesel prices in India are deregulated, which means they are linked to global rates. State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) revise fuel rates every fortnight based on global oil rates and the rupee-dollar exchange rate in the previous two weeks.