Petrol in Delhi will cost Rs. 66.91 per litre from today

NEW DELHI: Petrol prices were hiked on Wednesday evening by a steep Rs 1.23 per litre and diesel by Rs 89 paisa a litre, reversing a month’s declining trend.

Petrol in Delhi will cost Rs. 66.91 per litre from Thursday as against Rs. 65.32 a litre currently. Similarly, a litre of diesel will be priced at Rs. 55.94, as compared to Rs. 54.90 at present.

“The rates have been hiked excluding local state levies or VAT and actual increase will be higher depending on the tax rate,” said an official from Indian Oil Corporation (IOC).

“The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” he added.

Basically,IOC and other state-owned fuel retailers, Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) revise petrol and diesel price on 1st and 16th of every month based on the international oil rates and foreign exchange ratios in the preceding fortnight