Fuel prices saw its fourth consecutive since May with petrol prices increasing by 5 paise a litre and diesel by Rs. 1.26 a litre. Indian Oil Corporation Ltd (IOCL), the largest fuel retailer in the country, reported that Petrol will now cost Rs. 65.65 a litre in Delhi and Diesel Rs. 55.19 a litre.
The last price hike was witnessed on June 1 when the petrol prices were increased by Rs. 2.58 a litre and diesel by Rs. 2.26 a litre. This makes the total raise for the year shoot up to Rs. 4.52 for petrol and Rs 7.72 for diesel. Citing the reasons as rising crude oil prices and INR-USD rate, IOCL stated the international markets will be monitored in the following months.
"The current level of international product prices of petrol and diesel and Rupee-US Dollar 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," Indian Oil Corporation Ltd, said in the statement.
The last price hike was witnessed on June 1 when the petrol prices were increased by Rs. 2.58 a litre and diesel by Rs. 2.26 a litre. This makes the total raise for the year shoot up to Rs. 4.52 for petrol and Rs 7.72 for diesel. Citing the reasons as rising crude oil prices and INR-USD rate, IOCL stated the international markets will be monitored in the following months.
"The current level of international product prices of petrol and diesel and Rupee-US Dollar 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," Indian Oil Corporation Ltd, said in the statement.