Petrol to be dearer by Rs 3.13, diesel by Rs 2.71 per litre

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PETROL_PUMP12Price of petrol increased by Rs 3.13 a litre, while diesel went up by Rs 2.71 per litre, with effect from 15 May midnight.

The previous time the prices of both petrol and diesel were increased by the government was on 30 April.

After two rounds of cuts, tracking global cues, petrol prices were increased by Rs 3.96 per litre and diesel by Rs 2.37 a litre.

The prices of petrol in the national Capital were Rs 63.16 a litre, while diesel prices went up by Rs 49.57 per litre, the Indian Oil Corporation, the nation’s largest oil company, said.

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 international oil market and Indian Rupee-USD exchange rate has to be closely monitored and developing trends of the market will be reflected in future price changes,” IOC said.

Petrol prices had been cut by Rs 17.11 a litre between August and February and diesel by as much as Rs 12.96 a litre between October and February.
 

 

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