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Petrol prices hiked by Rs 3.07, diesel up by Rs 1.90

Oil marketing companies have today raised the price of petrol by Rs 3.07 and that of diesel by Rs 1.90. The hiked prices will be applicable from midnight March 16/March 17.

India TV Business Desk [ Updated: March 16, 2016 19:30 IST ]
petrol price hike
Image Source : PTI petrol price hike

New Delhi: Oil marketing companies today announced a hike in the prices of petrol and diesel. While petrol prices have been hiked by Rs 3.07 per litre, diesel prices have seen an increase of Rs 1.90 per litre.

The hiked prices will be applicable from midnight today. 

After the hike in the selling price, a litre of petrol in Delhi will cost Rs 59.86, whereas diesel will cost Rs 48.33 per litre.

The fuel prices were last revised after the Budget for the year 2016-17 was presented by Finance Minister Arun Jaitley, where petrol prices were reduced by Rs 3.02 and that of diesel was increased by Rs 1.47 per litre.

“The current level of international product prices of petrol and diesel and the rupee-US dollar exchange rate warrant an increase in the price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” Indian Oil Corporation said in a statement issued today.

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

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