Diesel price hiked by Rs 2.26/litre, petrol by Rs 2.58/litre

New Delhi: Petrol and diesel prices were hiked by Rs 2.58 and Rs 2.26 per litre respectively on Tuesday. Revised prices will take effect from the next day.

Fuel prices were last revised on May 16, when the cost of petrol was raised by 83 paise whereas diesel by 1.26 paise per litre.

“The rupee-dollar exchange rate and current level of international product prices are responsible for the increase in diesel and petrol prices,” said a statement by the Indian Oil Corporation (IOC) – state-owned fuel retailers.

Highlights:

• The rupee lost ten paise against the United States (US) dollar to settle at 67.26.
• The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely.
• Developing trends of the market will be reflected in future price changes, said IOC.