Petrol price hiked by Rs 2.58, diesel by Rs 2.26 per litre

Petrol price on Tuesday hiked by Rs 2.58 per litre and diesel price increased by Rs 2.26 per litre with effect from midnight tonight. This is the third hike in rates this month. 

On May 17, the petrol and diesel price was increased by Rs 83 paise per litre and Rs 1.26 per litre respectively. Before that, on May 1, the fuel rates were hiked by Rs 1.06 per litre on petrol and Rs 2.94 per litre on diesel.

With this change, the price of petrol in Delhi will be Rs. 65.60 per litre (including State levies), while one litre diesel will cost Rs. 53.93. The prices will be revised correspondingly in other states as well. 

The decision was taken by Indian Oil Corporation Ltd in view of the current level of international product prices of petrol and diesel vis-a-vis 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 will continue to be monitored closely and developing trends of the market will be reflected in future price changes. 

(With ANI inputs)