Price of Petrol was today increased by Rs 1.29 per litre and price of Diesel was increased by Rs 0.97 per litre, w.e.f from midnight of January 1st/2nd.
“The current level of international product prices of petrol and diesel and the INR-USD exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a release.
The increase in rates announced by oil firms is excluding state levies and the actual hike will be higher. The actual hike after considering VAT would be Rs 1.66 a litre in Delhi for petrol and Rs 1.14 for diesel. The hike will be effective from midnight tonight.