New Delhi: In the second increase in rates this month, petrol price was on Sunday hiked by a marginal 1 paisa per litre while the cost of diesel was increased by 44 paisa per litre.
The hike will be effective from midnight today. The latest announcement comes a fortnight after petrol and diesel prices were increased by Rs 1.39 per litre and Rs 1.04 a litre, respectively. In Delhi, petrol will now cost Rs 68.09 per litre while diesel will cost 57.35 a litre.
Indian Oil Corp (IOC), the nation’s largest fuel retailer, said the price of petrol was hiked by Rs 0.01 per litre and that of diesel by Rs 0.44 — both excluding state levies. However, the actual price will be more after taking into account local VAT.
“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement, adding that the movement of prices in the international oil market and INR-USD exchange rate would continue to be monitored closely.