Coal News We love to talk!

MAY 17 2016

Petrol price hiked by 83 paise , diesel up by Rs 1.26

  • Economic Times, ET Bureau / Hyderabad
  • Created: Tue 17th MAY 2016

Petrol price was today hiked by 83 paisa a litre and diesel by Rs 1.26 per litre, the second increase in rates this month. Petrol in Delhi will cost Rs 63.02 per litre from midnight tonight, while a litre of diesel will cost Rs 51.67, said Indian Oil Corporation (IOC), the nation's largest fuel retailer. Rates were last hiked by Rs 1.06 a litre on petrol and Rs 2.94 a litre on diesel on May 1.

 "The current level of international product prices of petrol and diesel and the rupee-US 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 IOC said.

 State-owned fuel retailers IOC, Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise rates of the fuel on 1st and 16th of every month based on the average oil price and the foreign exchange rate in the preceding fortnight.

 "The movement of prices in the international oil market and the rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the company added.

Tags

Delhi Oil Diesel Future Price Petrol United States Petroleum Hindustan Petroleum Corporation Limited Bharat Petroleum Corporation Limited BPCL

Related News

  • ONGC wants to suspend operations till a partner is found  Read more
  • RILsays not obliged to provide past year documents to CAG  Read more
  • Reliance Industries slaps arbitration notice on government over $1.55 bn demand: Dharmendra Pradhan  Read more
  • Vietnam renews Indian oil concession in tense South China Sea  Read more
  • Prabhat Kumar Singh takes over as MD & CEO of Petronet LNG  Read more
  • Govt to bear entire burden on sale of PDS Kerosene and subsidized LPG for 2016-17  Read more
  • Work on exploration of gas from KG Basin in progress: Gujarat govt  Read more
  • ONGC, Indian Oil looking at more projects in Colombia  Read more
  • India in focus for Norwegian expertise with natural gas  Read more
  • Shell eyes a bigger pie of LNG market  Read more