New Delhi: Petrol price went up by Rs1.55 per litre, excluding state taxes, from lat midnight, largely due to depreciation in the value of the rupee and rise in crude oil prices in international markets, Indian Oil Corporation said.
This is the second sharp hike in petrol prices in the past two weeks and fourth increase in less than two months. The previous increase was on June 29, when the oil marketing firms had hiked the price by Rs1.82 per litre, excluding taxes.
However, the price of diesel will remain unchanged.
“The combined impact of deteriorating exchange rate and increasing international oil prices has resulted in the need to increase petrol prices by Rs1.55 per litre (excluding VAT),” the country’s largest oil retailer said in a statement. IANS
