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Petrol prices hiked by Rs 2.19 a litre, diesel up by 98 paise per litre

Prices for petrol and diesel have been raised with effect from midnight tonight. While prices of petrol per litre have been hiked by Rs 2.19 per litre, diesel will get dearer by 98 paise per litre.
India TV Business Desk April 05, 2016 11:58 IST
India TV Business Desk

New Delhi: Prices for petrol and diesel have been raised with effect from midnight tonight. While prices of petrol per litre have been hiked by Rs 2.19 per litre, diesel will get dearer by 98 paise per litre.

“Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f midnight of 4th April / 5th April, 2016,” a press release by the state-owned oil major said this evening.

As a result of the hike, petrol will now be made available in Delhi at Rs. 61.87 per litre while diesel will now sell at a retail price of Rs. 49.31 per litre.

“The current level of international product prices of Petrol & Diesel and 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 Indian Oil statement read.

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, it added.