Petrol prices raised by Rs. 1.29, diesel up by 97 paise

As part of the fortnightly fuel price revision in the country, petrol prices have been hiked by Rs. 1.29 per litre, while diesel prices have been raised by 97 paise per litre. This increase does not include state levies, and thus the final applicable hike is slightly higher than the aforementioned figures. The increased prices have been made applicable from the midnight of January 1, 2017.

This marks the third increase in petrol prices in a month and the second hike in diesel prices within a fortnight. Post the raise, petrol in New Delhi is priced at Rs. 70.60 per litre, while diesel costs Rs. 57.82 a litre.

State-owned subsidiaries like Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise fuel prices in the country on the 1st and 16th of every month. Factors like international crude oil prices and USD-INR exchange rates are observed to determine the final revision.

Source: PTI