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Petrol price go up by 83 paise per litre, diesel by Rs 1.26 per litre

Rates were last hiked by Rs 1.06 a litre on petrol and Rs 2.94 a litre on diesel on May 1.

By: PTI | New Delhi | Updated: May 16, 2016 11:43 pm
diesel, petrol, petrol rice, diesel price, petrol price hiked, disel price hiked, petrol price delhi, petrol price mumbai, petrol price india, diesel price hike, diesel price delhi, diesel price mumbai, india news, latest news Rates were last hiked by Rs 1.06 a litre on petrol and Rs 2.94 a litre on diesel on May 1.

Petrol price was hiked on Monday by 83 paisa a litre and diesel by Rs 1.26 per litre, the second increase in rates this month.

Petrol in Delhi will cost Rs 63.02 per litre from midnight tonight, while a litre of diesel will cost Rs 51.67, said Indian Oil Corporation (IOC), the nation’s largest fuel retailer.

Rates were last hiked by Rs 1.06 a litre on petrol and Rs 2.94 a litre on diesel on May 1.

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“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,” the IOC said.

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

“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,” the company added.

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  1. S
    SK Gupta
    May 16, 2016 at 11:02 pm
    This govt is no better than the Congress in looting the Public by way of increased taxes n petroleum prices. This will eventually lead to fall of the govt. BJP needs to wake up!
    1. U
      May 17, 2016 at 6:14 am
      enough of achhe din ..no more plss. a month increased twice...govt is compelling us to buy bicycles..rich getting richer poor getting poorer..sad but truth..
      1. A
        An Indian
        May 17, 2016 at 1:49 am
        All signs of "Acha din"
        1. N
          Niladrinath Mohanty
          May 17, 2016 at 2:37 am
          Pricing of petrol and diesel are never transparent.
          1. S
            Suresh Shukla
            May 17, 2016 at 4:59 am
            Congress still managed to keep the patrol prices to this level when the rates in international market were at an all time high. BJP is doing a much bigger loot..
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