Petrol price hiked, diesel cut

As part of the scheduled fortnightly fuel price revision, the price of petrol in India has been hiked by 28 paise per litre, while that of diesel has been reduced by 6 paise per litre. The revised prices have been made applicable from the midnight of September 30 - October 1, 2016.

After this price revision, petrol in Delhi costs Rs. 64.57 per litre, while diesel is priced at Rs. 52.52 per litre (including state levies).

This marks the third hike in petrol prices in the last two months, while in the case of diesel, this is the second consecutive price cut. This has increased the difference in petrol and diesel prices to around Rs. 12 per litre in Delhi.

Fuel prices in the country depend on the USD-INR exchange rates and crude oil prices in international markets. Government-owned oil companies like Hindustan Petroleum Corporation Ltd. (HPCL), Oil and Natural Gas Corporation (ONGC), and Indian Oil Corporation (IOC) take a call on the price revision every fortnight, on the 16th and 1st of every month.

Source: PTI News