In the fourth successive hike in last six weeks, the petrol price has been increased by 42 paisa a litre, diesel prices too got its third increase in the same period by Rs 1.03 per litre, by the state oil companies. The increase in rates, are excluding state levies and the actual hike are a even higher.
Including VAT, the hike in Delhi comes to 53 paisa and in case of diesel it will be Rs 1.20 a litre. Petrol will cost Rs 71.13 a litre as against Rs 70.60 currently and similarly, a litre of diesel will be priced at Rs 59.02 as opposed to Rs 57.82 currently.
Indian Oil Corp (IOC) said that the current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warranted increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision.
The PSU oil major also said that 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.