New Delhi, Nov 15 (PTI) Petrol price was hiked today by 36 paisa a litre, while that of diesel by 87 paisa per litre in line with firming global rates.
This is the first hike in petrol price in five months and the third in diesel rates since October.
Petrol will cost Rs 61.06 per litre from midnight tonight as against Rs 60.70 a litre currently, said Indian Oil Corp, the nation's largest fuel retailer.
A litre of diesel will from tomorrow cost Rs 46.80 as compared to Rs 45.93 per litre currently.
"The current level of international product prices of petrol and diesel and Indian Rupee-US Dollar exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement here.
Last time the price of petrol was on July 16 when rates were increased by 32 paisa. Since then prices have been cut on four occasions - by Rs 2.43 on August 1.27 on August 1, by Rs 2 on September 1 and by 50 paisa on last price change on November 1.
Diesel rates were not changed on November 1 but had been hiked by 95 paise on October 16 and by 50 paise on October 1.
Rates of diesel were on September 1 reduced by 50 paise a litre.
State-owned fuel retailers -- IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) -- revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight.
"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 IOC statement added.
Disclaimer: Please write your correct name and email address. Kindly do not post any personal, abusive, defamatory, infringing, obscene, indecent, discriminatory or unlawful or similar comments. canaranews.com will not be responsible for any defamatory message posted under this article.
Please note that under 66A of the IT Act, sending offensive or menacing messages through electronic communication service and sending false messages to cheat, mislead or deceive people or to cause annoyance to them is punishable. It is obligatory on CANARANEWS to provide the IP address and other details of senders of such comments, to the authority concerned upon request.
Hence, sending offensive comments using canaranews will be purely at your own risk, and in no way will canaranews.com be held responsible.