Petrol price hiked by Rs 1.23 per litre, diesel by 89 paise

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The price of petrol has been increased by Rs 1.23 per litre while that of Diesel has been hiked by 89 paise per litre. 

Petrol Pump

The prices will be effective from the midnight intervening Wednesday and Thursday. These hikes exclude state levies and so the actual price increases could vary.

Petrol price in Delhi will cost Rs 66.91 per litre from tomorrow as against Rs 65.32 a litre currently.

On May 15, petrol price was reduced by Rs 2.16 per litre while that of diesel by Rs 2.10 per litre. Prior to that, petrol price was hiked by Rs 1.39 per litre and diesel by Rs 1.04 a litre from April 16.

The Indian Oil Corporation has attributed the change in price to international crude prices and rupee-dollar exchange rate.

"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease 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.

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