BUSINESS

Diesel Prices Increase By ₹1.03 Per Litre, Petrol Prices Up By 42 Paise

Petrol will now cost ₹71.13 per litre, diesel will be priced at ₹59.02.

16/01/2017 8:37 AM IST | Updated 16/01/2017 8:38 AM IST
shylendrahoode

NEW DELHI -- Petrol price was on Sunday night hiked by ₹0.42 a litre, the fourth increase in 6 weeks, and diesel rate was raised by ₹1.03 a litre, the second hike in a fortnight.

The increase in rates, which are effective from midnight tonight, are excluding state levies and the actual hike will be higher, the oil companies announced.

After including VAT, the hike in Delhi comes to ₹0.53 and in case of diesel it will be ₹1.20 a litre.

Petrol will cost ₹71.13 a litre from Monday 1200 hrs as against ₹70.60 currently. Similarly, a litre of diesel will be priced at ₹59.02 as opposed to ₹57.82 currently.

This is the fourth increase in petrol price in six weeks and the third in case of diesel in one month.

Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates on 1st and 16th of every month based on average international price in the previous fortnight.

"The current level of international product prices of petrol and diesel and rupee-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.

It said the movement of prices in the international oil market and foreign exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.

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