Login

Petrol price increased by 60 paise, diesel by 50 paise

Oil marketing companies in India has increased petrol prices by 60 paise per litre and diesel by 50 paise/litre, excluding state levies. The new prices will come into effect from midnight Friday.
loader

By Vikas Yogi

clock-icon

1 mins read

Calendar-icon

Published on March 1, 2014

Follow us on

google-news-iconWhatsapp-icon
Story

Highlights

    Oil marketing companies in India has increased petrol prices by 60 paise per litre and diesel by 50 paise/litre, excluding state levies. The new prices will come into effect from midnight Friday.

    Petrol price in Delhi has gone to Rs 73.03 a litre, earlier it was Rs 73.03/litre. On the other hand, diesel price has been hiked to Rs 54.84/litre from Rs 54.34 per litre in Delhi. Petrol prices were last hiked on January 3 by 75 paise/litre.

    Elaborating on the fuel price hike, Indian Oil Corporation released a statement, which reads as, "Since the last price change, international prices of MS have increased from USD 116.04/bbl to USD 118.10/bbl, and the INR-USD exchange rate has also depreciated from Rs. 62.02/$ to Rs. 62.12/$. The combined impact of both these factors, has warranted the increase in Petrol prices by Rs. 0.60/ litre (excluding state levies)."

    Also, in pursuant to GOI order dated 17th January, 2013, Oil marketing companies are authorised to increase the retail selling price of Diesel, within a small range every month until further orders. So, since then, retail diesel prices are being revised every month. Even after this hike, companies are bearing a loss of Rs. 8.37/litre on retail diesel.

    Calendar-icon

    Last Updated on March 1, 2014


    Stay updated with automotive news and reviews right at your fingertips through carandbike.com's WhatsApp Channel.

    Great Deals on Used Cars

    View All Used Cars

    Upcoming Cars

    Upcoming Bikes

    Explore More