Mumbai: With the global oil prices going over $50 a barrel earlier this week, state-run Indian Oil Corp yesterday hiked the prices of transport fuels — of petrol by Rs2.21 a litre, and of diesel by Rs1.79 at Delhi, with corresponding increase in other states and effective midnight.
"The current level of international product prices of petrol and diesel and the INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a release here late yesterday. Petrol per litre from Saturday will cost Rs68.94 in Delhi, Rs71.50 in Kolkata, Rs75.27 in Mumbai and Rs68.41 in Chennai.
Similarly, diesel will cost Rs56.68 in Delhi, Rs58.92 in Kolkata, Rs62.40 in Mumbai and Rs58.29 in Chennai.
Amid the fluctuation in global prices, rates were last revised on December 1, when petrol price was hiked by 13 paise a litre, while diesel rates were cut by 12 paise, both in Delhi, with corresponding changes in other states.
With oil producers outside the Organisation of the OPEC, led by Russia, agreeing to reduce output by 558,000 barrels per day (bpd) last week.
