STOCK MARKET BSE NSE

Petrol Price Hiked by Rs 2.19 a Litre, Diesel 98 Paise

The hike comes on the back of a steep Rs 3.07 a litre increase on March 17 and a Rs 1.90 a litre hike in diesel rates.

Published: 04th April 2016 10:57 PM  |   Last Updated: 04th April 2016 10:57 PM   |  A+A-

Wholesale-Reuters

Under fuels -- the index for which was down 16.5 percent -- petrol was cheaper by 13.26 percent and diesel by 24.54 percent.| (File/Reuters)

By PTI

NEW DELHI: Petrol price was today hiked by Rs 2.19 a litre and diesel by 98 paise per litre.

Petrol in Delhi will cost Rs 61.87 per litre from the mid-night tonight as against Rs 59.68 currently, said Indian Oil Corporation, the nation's biggest fuel retailer.

Similarly, a litre of diesel will cost Rs 49.31 compared with Rs 48.33 at present.

The hike comes on the back of a steep Rs 3.07 a litre increase on March 17 and a Rs 1.90 a litre hike in diesel rates.

While this is the second straight increase in petrol price, this is the fourth straight fortnightly increase in diesel rates. The three hikes in diesel rates since February 16 total Rs 3.65 per litre.

"The current level of international product prices of petrol and diesel and the rupee-US dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to consumers with this price revision," IOC said in a statement.

State-owned fuel retailers IOC, Bharat Petroleum Corporation (BPCL) and Hindustan Petroleum Corporation (HPCL) revise rates of the fuel on 1st and 16th of every month based on the average oil price and the foreign exchange rate in the preceding fortnight.

The revision was due last week, but the retailers chose to defer it by a day.

"The movement of prices in the international oil market and the rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," IOC added.

Stay up to date on all the latest Business news with The New Indian Express App. Download now

Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp