 "Petrol price hiked by Rs 3.38/litre, diesel by Rs 2.67/litre")
Oil marketing companies increased prices of petrol by Rs 3.38 per litre and those of diesel by Rs 2.67 per litre from Wednesday midnight, following a steep increase of crude oil prices in the international market.
“During the current fortnight, crude oil prices in the international market have witnessed a steep increase of 13 per cent (over $5 per barrel) compared to previous fortnight, with a corresponding increase in international prices of petroleum products. The current level of international prices justify an increase in prices of petrol and diesel,” state-run Indian Oil Corporation said on Wednesday.
The retail (consumer) selling prices of petrol and diesel were reduced on four occasions in the past two months on the back of decreasing international oil prices. As a result, prices in Delhi were reduced by Rs 5.56 per litre for petrol and by Rs 4.92 per litre for diesel during the period. Following the current increase, the price of petrol in Delhi will become Rs 63.47 a litre and that of diesel will become Rs 52.94 a litre.
“During the current fortnight, crude oil prices in the international market have witnessed a steep increase of 13 per cent (over $5 per barrel) compared to previous fortnight, with a corresponding increase in international prices of petroleum products. The current level of international prices justify an increase in prices of petrol and diesel,” state-run Indian Oil Corporation said on Wednesday.
The retail (consumer) selling prices of petrol and diesel were reduced on four occasions in the past two months on the back of decreasing international oil prices. As a result, prices in Delhi were reduced by Rs 5.56 per litre for petrol and by Rs 4.92 per litre for diesel during the period. Following the current increase, the price of petrol in Delhi will become Rs 63.47 a litre and that of diesel will become Rs 52.94 a litre.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%