1. Petrol price increased by Rs 1.34/litre, diesel by Rs 2.37/litre

Petrol price increased by Rs 1.34/litre, diesel by Rs 2.37/litre

Oil Companies on Friday increased petrol prices by Rs 1.34 a litre and diesel prices by Rs. 2.37 per litre. The prices will vary from state to state and will be effective from midnight.

By: | New Delhi | Updated: October 15, 2016 7:57 PM
petrol price, petrol price hiked, petrol price hiked in delhi, delhi petrol price The last changes in petrol and diesel prices came on September 30. Oil Companies had increased petrol prices by 36 paise per litre and decreased diesel prices by 7 paise per litre on September 30th.

Petrol price was today hiked by Rs 1.34 a litre, the fifth increase in two months, and diesel by Rs 2.37 a litre on back of spike in global rates.

The hike announced by oil companies is excluding state levies.

After including local VAT, petrol will now cost Rs 66.05 a litre in Delhi from midnight tonight as against Rs 64.72 per litre currently. Diesel will cost Rs 55.26 per litre as against Rs 52.61 a litre at present.

The price of petrol was last hiked by 14 paise per litre and that of diesel by 10 paise a litre on October 5, following an increase in commission paid to dealers.

Prior to that petrol price had been hiked on three occasions while diesel price was cut by 8 paise a litre on October 1.

“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,” Indian Oil Corp (IOC) said in a statement.

The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said.


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