NEW DELHI: The Indian Oil Corporation has on Tuesday released a statement regarding the latest revision to the Petrol and Diesel Prices tariff in India. As per the statement, Petrol price was hiked by Rs 2.58 a litre whereas, Diesel price by Rs 2.26 a litre.
This is the second increase in Petro-Diesel Prices in the month of May. The tariffs were last hiked on May 17 in accordance with trends in the International Crude Oil market.
It is well known that the Indian Oil Corporation revises the Petrol and Diesel prices every fortnight to balance the loss and gains of the crude oil trade.
“The current situation in the International crude oil market and the Rupee-Dollar exchange rate warrants a price revision and hence, the same has been passed on to the consumers with this latest revision of prices”, the Oil Corporation said in its statement.
With this, Petrol will cost Rs 65.60 per litre in Delhi, while Diesel will cost Rs 53.93/litre