Indian Oil Corporation (IOC) will raise petrol prices from Tuesday by 70 paise per litre, excluding taxes, a statement from the country's biggest fuel retailer said.
A rise in global oil prices and volatility in the rupee-dollar exchange rate had prompted the revision, the IOC statement said on Monday.
A litre of petrol currently sells at Rs 67.78 in New Delhi.India's three state-run fuel retailers -- including Bharat Petroleum Corp and Hindustan Petroleum Corp -- review petrol prices every two weeks and tend to move their prices in tandem.
In late May, the three retailers raised petrol prices by Rs 6.28 a litre, excluding taxes -- their first revision in prices for about six months -- but made a partial rollback after a public outcry in June.
The prices were pared once again last month after global oil and petrol prices softened.
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