Thursday , August 24 2017
Business News

Petrol price hiked marginally by 1 paisa, diesel by 44 paisa a litre

Petrol price hiked marginally by 1 paisa, diesel by 44 paisa a litre

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, news agency PTI reported. 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.

PTI