New Delhi: Oil companies hiked the price of petrol and diesel by Rs 2.58 and Rs 2.26 respectively. The price has come into effective from midnight on Tuesday May 31. With this change, the price of petrol in the national capital 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 Rupee-Dollar 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.
The price of both petrol and diesel was last revised on May 17 with rising crude oil and product prices in the global market.