Diesel price hiked by Rs.1.26 a litre, petrol by Rs. 0.83

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SME Times News Bureau | 17 May, 2016
State-run Indian Oil Corp (IOC) on Tuesday raised transport fuel prices, with petrol becoming costlier by 83 paise a litre and diesel by Rs.1.26, both at Delhi and inclusive of local levies, with corresponding increase in other states.

"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in prices, the impact of which is being passed on to the consumers with this price revision," IOC said in a release here.

Petrol per litre from Tuesday will cost Rs.63.02 in Delhi, Rs.66.44 in Kolkata, Rs.66.12 in Mumbai and Rs.62.47 in Chennai.

The price of diesel per litre is Rs.51.67 in Delhi, Rs.54.10 in Kolkata, Rs.56.81 in Mumbai and Rs.53.09 in Chennai.

The Indian basket, comprising 73 percent sour-grade Dubai and Oman crudes and the balance in sweet-grade Brent, rose to $45.17 on Friday for a barrel of nearly 160 litres, as per data compiled by the government's Petroleum Planning and Analysis Cell.