The price of Petrol was hiked by Rs 1 point 39 per litre and diesel by Rs 1 point 04 a litre excluding state levies with effect from midnight tonight.
Actual increase in price will be more after taking into account local VAT. Petrol in Delhi currently costs Rs 66 point 29 a litre while a litre of diesel is priced at Rs 55 point 61. The hike came on back of a Rs 4 point 85 per litre reduction in rates of petrol and Rs 3 point 41 a litre in diesel effected from April 1.
Nation’s largest fuel retailer Indian Oil Corporation said in a statement that the current level of international fuel product prices 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.