Petrol and diesel prices to go up

Mumbai: In response to global prices and currency fluctuations, the three state-owned oil marketing companies (OMCs) have decided to increase the price of petrol and diesel from midnight Saturday.

According to the Indian Oil Corporation (IOC), petrol price will be increased by Rs 0.89 per litre excluding state levies, whereas diesel would become expensive by Rs 0.86 per litre. "The current level of international product prices of petrol and diesel 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," IOC said in a statement. "The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes." The new prices of non-branded petrol in metros like New Delhi would come to Rs 67.62 per litre, Kolkata Rs 70.24, Mumbai Rs 74 and Chennai Rs 67.13. The revised prices of non-branded diesel in New Delhi would come to Rs 56.41 per litre, Kolkata Rs 58.67, Mumbai Rs 62.15 and Chennai Rs 58.02. On October 15, 2016, the three OMCs had decided to increase the price of petrol and diesel by Rs 1.34 per litre and Rs 2.37 per litre (excluding state levies) respectively.