Driving gets expensive: Petrol price hikes by Rs. 1.39, diesel gets Rs. 1.04 costlier

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 further said

Arnima Dwivedi
Published on: 16 April 2017 3:34 AM GMT
Driving gets expensive: Petrol price hikes by Rs. 1.39, diesel gets Rs. 1.04 costlier
X
Driving gets expensive: Petrol price hikes by Rs. 1.39, diesel gets Rs. 1.04 costlier

New Delhi: The petrol price was hiked by Rs. 1.39 per litre and diesel by Rs. 1.04 a litre from Saturday night last in sync with firming international rates.

Nation's largest fuel retailer, state-owned Indian Oil Corp (IOC) said, "price of petrol is being increased by Rs. 1.39 per litre and that of diesel by Rs. 1.04, excluding state levies, with effect from Saturday midnight.

"The current level of international product prices 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," stated IOC.

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 further said.

Also Read: Price of petrol and diesel will change daily from May 1; Here’s why!

The oil seller also indicated that it intends to shortly start daily changes in price of petrol and diesel on pilot basis, in Udaipur, Jamshedpur, Pondicherry, Chandigarh and Vizag.

It is worth mentioning that the hike comes on the back of a Rs. 4.85 per litre reduction in rates of petrol and Rs. 3.41 a litre in diesel that had came into effect from April 1.

The market experts, however, stated that the actual increase in price will be more after taking into account local VAT.

Arnima Dwivedi

Arnima Dwivedi

A journalist, presently working as a sub-editor with newstrack.com. I love exploring new genres of humans and humanity.

Next Story