Petrol price hiked by 83 paise, diesel by Rs. 1.26 per litre

New Delhi: The government on Monday hiked the price of petrol by Rs. 0.83 a litre and that of diesel by Rs. 1.26 per litre.

Indian Oil Corporation Ltd. has decided to affect the following price changes w.e.f. midnight of May 16.

Thereafter, petrol in Delhi will now be priced at Rs. 63.02/litre whereas diesel will now be priced at Rs. 51.67/litre.

The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision.

The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes. (ANI)