After seven consecutive petrol price cuts, Oil marketing companies yesterday hiked the petrol prices by Rs 3.07 per litre while diesel price were increased third time in a row by Rs 1.90. The new prices are already into effect from midnight of March 16-17. According to Indian Oil Corporation, with the increment in fuel prices, petrol now costs Rs 59.68/litre in Delhi; Rs 63.76 in Kolkata; Rs 65.79 in Mumbai, and Rs 59.13 in Chennai. On the other hand, a litre diesel costs Rs 48.33 in Delhi, Rs 50.75 in Kolkata, Rs 55.06 in Mumbai and Rs.49.09 in Chennai.
“The current level of international product prices of petrol & diesel and the rupee-US dollar exchange rate warrant an increase in the price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” said Indian Oil Corporation in a statement.
“The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” the statement added.
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