Petrol price hiked by 58 paise, diesel down by 31 paise

The price of petrol in the country has been hiked by 58 paise per litre, while that of diesel has been cut by 31 paise per litre. The new prices have been made applicable from the midnight of September 15-16.

This is the second increase in the price of petrol this month. It was hiked on September 1 by Rs. 3.38 per litre. However, the price of diesel has been given a slight reduction that wipes away a small part of the Rs. 2.67 per litre increase that was made 15 days ago.

After the recent price update, petrol in New Delhi costs Rs. 64.05 per litre, while diesel retails at Rs. 52.63 per litre.

State-owned subsidiaries like Bharat Petroleum Corporation Ltd. (BPCL), Indian Oil Corp (IOC), and Hindustan Petroleum Corporation Ltd (HPCL) revise fuel prices in India every fortnight. The decision to hike or cut prices is taken after considering factors like INR-USD exchange rates and international crude oil prices.

Source: Times of India