 "Petrol hiked by 36 paise a liter; diesel costlier by 87 paise")
Oil Marketing Companies (OMCs) have raised the prices of petrol by 36 paise per liter and diesel rates by 87 paise per liter in order to align the domestic petroleum product prices with global benchmarks.
Post the price revision, to be effective midnight tonight, Petrol will cost Rs 61.06 per liter in Delhi including state taxes while a liter of Diesel will cost Rs 46.80 per liter.
“The current level of international product prices of Petrol and Diesel and Rupee-Dollar exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision,” state-owned Indian Oil Corporation said in a statement.
The company, India’s largest fuel retailer, also added it will continue to monitor closely the movement of prices in the international oil market and the exchange rate and the developing trends of the market will be reflected in future price changes.
Petrol prices were last revised on 1 November through a 50 paisa reduction to Rs 60.70 per liter while diesel prices were raised by 98 paise to Rs 45.93 per liter.
