Petrol, Diesel gets costlier by Rs.2.19/ltr, 0.98/ltr respectively

New Delhi: The government on Monday hiked the price of Petrol by Rs 2.19 a litre and that of Diesel by 98 paise per litre. Indian Oil Corporation Ltd. has decided to effect the following price changes from the intervening midnight between April 4th and 5th. Earlier, on March 16 last, petrol price was hiked by as much as Rs 3.07 a litre, reversing its 3-month declining trend, while diesel rates had gone up by Rs 1.90 per litre. Thereafter, petrol in Delhi will now be priced at Rs 61.87 per litre as against the previous Rs 59.68. Diesel price too soared to Rs 49.31 compared with Rs 48.33 a litre previously The current level of international product prices of Petrol & Diesel and INR-USD 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 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.