Indian Oil Corp (IOC), the nation’s largest fuel retailer, said price of petrol is being increased by Rs 1.39 per litre, excluding state levies, and that of diesel by Rs 1.04 (excluding state levies) with effect from Saturday midnight. Actual increase in price will be more after taking into account local VAT. Petrol in Delhi currently costs Rs 66.29 a litre while a litre of diesel is priced at Rs 55.61.

 

Petrol in Karnataka after the price hike will be at Rs 73 per litre while a litre of diesel will cost you Rs 60.83. Petrol in Bengaluru had cost  Rs 71.09/litre and Diesel at Rs 59.52 per litre previously, after the last cut on March 31, 2017.

 

In Kerala, the rates of petrol and diesel per litre after the hike will be Rs 72.36 and Rs 62.2 respectively. Petrol price in Kerala after the previous revision on March 31, 2017 was Rs 69.31 per litre and diesel was at Rs 59.69 per litre.

 

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,” IOC said in a statement.

 

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, it said.

 

IOC also said it intends to shortly start daily changes in price of petrol and diesel on pilot basis, in Udaipur, Jamshedpur, Pondicherry, Chandigarh and Vizag.

 

with PTI inputs