Petrol and Diesel prices across the nation have been raised by Rs 3.96 per litre and diesel by Rs 2.37 a litre. The revised prices of petrol in Delhi will be Rs 63.16 a litre, while diesel would cost Rs 49.57 per litre in the national capital. These prices would be effective from Friday midnight. Prior to this increase, the prices of petrol were Rs 59.20 per litre, while diesel was Rs 47.20 a litre in Delhi.
Earlier, the rates were increased by 0.82 a litre in petrol and Rs 0.61 per litre in diesel on February 16, and by Rs 3.18 per litre in petrol and Rs 3.09 a litre in diesel on March 1. After these, rates had been cut twice. Rates were last cut by 80 paise per litre on petrol and Rs 1.30 a litre on diesel from April 16. This followed a reduction of 49 paisa a litre in the price of petrol and Rs 1.21 in diesel from April 2. Petrol prices had been cumulatively cut by Rs 17.11 a litre in 10 reductions between August and February and diesel by Rs 12.96 a litre in 6 reductions between October and February.
State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise petrol and diesel prices on 1st and 16th of every month based on average imported cost and rupee-dollar exchange rate in the previous fortnight. "The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," IOC said.