Petrol prices hiked by Rs. 1.23, diesel up by 89 paise

The price of petrol has been hiked by Rs. 1.23 per litre, while that of diesel has been upped by 89 paise per litre. The new prices are applicable from the midnight of June 1, 2017. The aforementioned price hike is excluding state levies. As a result, the final increase will be slightly more and will vary from state to state.

Post this hike, petrol in New Delhi is priced at Rs. 66.91 per litre, while diesel costs Rs. 55.94 per litre. Fuel prices in the country were last revised on May 16, when the price of petrol was reduced by Rs. 2.16 per litre, while that of diesel was slashed by Rs. 2.10 per litre.

State-owned oil retailers like Indian Oil Corp, Bharat Petroleum and Hindustan Petroleum revise fuel prices in the country every fortnight. Factors like INR-USD exchange rates and international crude oil prices are taken into consideration to ascertain the final applicable price revision.

Source: PTI News