Petrol and Diesel Price hiked: Petrol price up by Rs.2.19 and Diesel will cost 98 paise more

Petrol and Diesel Price hikedThis month's first Petrol price change was announced yesterday by hiking Pertol by Rs.2.19 a litre and diesel by 98 paise per litre.

Petrol in Delhi will cost Rs 61.87 per litre from Tuesday mid-night as against Rs 59.68 currently, said Indian Oil Corporation, the nation's biggest fuel retailer. Like wise, a litre of diesel will cost Rs 49.31 compared with Rs 48.33 at present.

Last hike was on March 17th when we witnessed a steep hike of Rs.3.07 a litre on petrol and Rs.1.90 a litre hike in diesel rates.

This is the second straight increase in petrol price, this is the fourth straight fortnightly increase in diesel rates. The three hikes in diesel rates since February 16 total Rs 3.65 per litre.

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

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

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