State-owned oil marketing companies (OMCs) hiked diesel price by Rs 1.26 a litre and petrol marginally by 5 paise a litre from Wednesday midnight in the national capital, the fourth increase in rates
State-owned oil marketing companies (OMCs) hiked diesel price by Rs 1.26 a litre and petrol marginally by 5 paise a litre from Wednesday midnight in the national capital, the fourth increase in rates in six weeks.
There will be corresponding price revision in other parts of the country depending upon local taxes. Petrol will now cost Rs 65.65 a litre in Delhi and diesel will cost Rs 55.19 per litre in Delhi.
The prices of these two fuels are revised on 1st and 15th of every month depending upon their rates in the international markets.
“The current level of international product prices of petrol and diesel and Rupee-US dollar 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,” said Indian Oil Corporation on Wednesday
Petrol price was last hiked by Rs 2.58 a litre on June 1 and diesel by Rs 2.26 a litre following oil prices crossing $50 per barrel mark.
Barring an exemption on April 16, when price of petrol was cut by 74 paise a litre and diesel by Rs 1.30, the upward trend in rates has been a phenomenon since March 17.
Petrol price was increased by Rs 3.07 a litre on March 17 and Rs 2.19 per litre on April 4. In case of diesel, there were four straight hikes prior to that cut. The hikes totaled Rs 4.63 per litre.
