Today, excluding local levies, petrol price increased by Rs 2.21/litre and diesel price by Rs 1.79/litre with the effect of yesterday. Any blushes possibly deferred to save the demonetization-battered government in Parliament.
These rates will be effective from midnight tonight. This hike does not include local levies. After considering VAT, the actual increase in one Litre patrol price will be Rs 2.84 and in one litre diesel price will be 2.11.
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Indian Oil Corp, the nation’s leading fuel vendor said, “Petrol price will be increased in Delhi from Rs 66.10 to Rs 68.94 per litre from midnight tonight after the hike.” The diesel price will correspondingly be increased from Rs 54.57 to Rs 56.68.
The rates are revised by the Indian Oil Corporation (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) on 1st and 16th of every month on the basis of average international price in the past fortnight.
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It did not announce yesterday, International gasoline price hiked from $ 57.43 to $62.82 per barrel and diesel price from $56.79 to $60.97 per barrel. This affected Indian industry.
The government postponed it because Parliament session was going on and also currency demonetization is not completely. On 1st December, Rs 0.13 per litre patrol price had been hiked and Rs 0.12 per litre diesel price had been reduced. IOC stated,
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“This price revision passes on the impact of present international price level of petrol price and diesel and exchange rate of Rupee-US Dollar. Changes in foreign exchange rate and international oil market price reflects in future market price.
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