Petrol Price Hiked By 1.06/Litre, Diesel By Rs 2.94/Litre

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New Delhi: Petrol price was on Saturday hiked by Rs 1.06 per litre while diesel rate was increased by Rs 2.94 per litre.

Petrol in Delhi will cost Rs 62.19 per litre from the midnight of April 30 and May 1 as against Rs 61.13 earlier, said Indian Oil Corporation (IOC), the country’s largest fuel retailer. Similarly, a litre of diesel will cost Rs 50.95 compared with Rs 48.01 earlier.

The increase comes on back of a Rs 0.74 per litre cut in the price of petrol and a reduction of Rs 1.30 a litre in that of diesel on April 16. (Read more)

“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 the consumers with this price revision,” IOC said.

State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the prices on the 1st and 16th of every month based on the average global oil price and foreign exchange rate in the preceding fortnight.

“The movement of prices in the international oil market and the rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” Indian Oil added.

Meanwhile, prices of non-subsidised cooking gas, non-PDS (public distribution system) kerosene and aviation turbine fuel (ATF) were raised on Sunday.

The price of non-subsidised LPG – which consumers buy after exhausting their quota of 12 cylinders per year – was raised by Rs 18 per 14.2-kg cylinder while that of aviation turbine fuel (ATF) was increased by 1.5 per cent, or Rs 627 per kilolitre, in Delhi. The rate of kerosene sold to the non-ration card segment outside the subsidised public distribution system went up by nearly Rs 3 per litre.