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Petrol price hiked by 58 paisa a litre, diesel cut by 31 paisa

Petrol price was on Thursday hiked by 58 paisa a litre while diesel price was cut by 31 paisa per litre in line with international trends.

India TV Business Desk, New Delhi [ Published on: September 16, 2016 6:50 IST ]
Petrol price hiked and diesel price reduced
Petrol price hiked and diesel price reduced

Petrol price was on Thursday hiked by 58 paisa a litre while diesel price was cut by 31 paisa per litre in line with international trends. 

Petrol will cost Rs 64.05 a litre from midnight tonight as against Rs 63.47. Similarly, diesel will cost Rs 52.63 a litre as compared to Rs 52.94 a litre. 

This is the second increase in rates of petrol this month while in case of diesel it wipes away a part of the hike effected earlier this month. 

Petrol and diesel prices saw a hike of Rs 3.38 and Rs 2.67 per litre respectively on September 1.

“The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and decrease in selling prices of Diesel, the impact of which is being passed on to the consumers with this price revision,” Indian Oil Corporation, said. 

“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,” IOC said in a statement.

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