The price of petrol was increased on Sunday by 42 paise a litre and diesel by Rs 1.03 per litre. The hike that has been in effect since Sunday midnight excludes state levies. A statement issued by Indian Oil Corp said Petrol in Delhi will cost Rs 71.14 per litre while diesel will cost Rs 59.02 per litre, inclusive of state charges.
State-run oil companies – Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation – revise fuel rates on the 1st and 16th day of each month based on international prices. Indian Oil said, “The current level of international product prices of petrol and diesel and the rupee and dollar exchange rate warrant increase in selling price of petrol and diesel.”
Fuel prices were last revised on January 1 when the price of petrol was increased by Rs 1.29/litre and diesel up by 97 paise. In December, the Organisation of Petroleum Exporting Companies and other oil producers agreed to reduce production to stabilize the markets and fuel prices.
Limited-time offer: Big stories, small price. Keep independent media alive. Become a Scroll member today!
Our journalism is for everyone. But you can get special privileges by buying an annual Scroll Membership. Sign up today!