Petrol price up by 58 paise/litre, diesel down by 31 paise

Amid the recent fluctuation in global oil prices, state-run Indian Oil Corp (IOC) late on Thursday moved in contradictory ways on transport fuels, increasing the price of petrol by 58 paise a litre and decreasing diesel by 31 paise per litre effective from midnight -- both at Delhi, with corresponding changes in other states.

"The current level of international product prices of Petrol and Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and decrease in selling prices of Diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a release here.

Making its previous fortnightly revision in fuel prices on August 31, the IOC had hiked prices of petrol by Rs 3.38 a litre and diesel by Rs 2.67 per litre effective both at Delhi, with corresponding increase in other states.

Petrol per litre from Friday will cost Rs 64.21 in Delhi, Rs 67.42 in Kolkata, Rs 69.13 in Mumbai and Rs 63.76 in Chennai.

Similarly, diesel per litre will cost Rs 52.59 in Delhi, Rs 54.89 in Kolkata, Rs 58.10 in Mumbai and Rs 54.06 in Chennai.

The Indian basket of crude oils closed trade on Wednesday at $44.44 a barrel as per official data.

--IANS

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