New Delhi: State owned oil companies on Monday hiked petrol price by 64 paise a litre, but cut diesel price by Rs 1.35 per litre in line with their international rates. Petrol in Delhi will now cost Rs 66.93 per litre from Rs 66.29 a litre. A litre of diesel will cost Rs 50.93 per litre in national capital from Rs 52.28 a litre.
On May 16, petrol price was hiked by Rs 3.13 a litre and diesel by Rs 2.71 per litre. After deregulation in the prices of both the fuels, these prices are revised on 1st and 16th of every month by the PSU oil marketing companies in line with their global prices.
“Since last price change, there has been an increase in international prices of petrol while international prices of diesel have shown a downward trend. Indian rupee-US dollar exchange rate has depreciated during this period,” said Indian Oil Corp in a statement.
It said that the combined impact of these factors warrant an upward revision in prices of petrol and a downward revision in prices of diesel, “the impact of which is being passed on to the consumers.”
