Public sector oil companies of India on Wednesday had announced increment in Petrol Price and diesel price by Rs. 3.38 and Rs. 2.67 respectively. The price increase includes state levies and will be effective midnight August 31st.
After the change petrol will cost ₹ 63.47 a liter in Delhi while diesel will cost ₹ 52.94 a liter.
Indian Oil Corporation (IOC) said, “During the current fortnight, crude oil prices in the international market have witnessed a steep increase by 13 percent (over $ 5 per barrel) compared to a previous fortnight, with a corresponding increase in the international prices of petroleum products. The current level of international prices warrants an increase in prices of petrol and diesel, the impact of which is being passed on to the consumers”. They added “ As a consequence, the prices in Delhi were reduced by ₹ 5.56 a liter for Petrol and ₹ 4.92 a liter for diesel…The movement of prices in the international oil market and rupee-US Dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes”.