Four days after fortnight revision of fuel prices, the price of petrol was today hiked by 14 paise per litre and that of diesel by 10 paise a litre, following increase in commission paid to dealers.
Petrol will now cost Rs 64.72 a litre in Delhi from midnight tonight as against Rs 64.58 per litre currently.
Diesel will cost Rs 52.61 per litre as against Rs 52.51 a litre at present.
Announcing the price decision, Indian Oil Corp (IOC) said, "There will be corresponding price revisions on petrol and diesel in other states on account of change in dealer commission."
The hike comes on the back of a 37 paise increase in petrol rate effected on October 1. Diesel price on that day was cut by 8 paise a litre.
That was the third increase in rates in petrol in two months, while in the case of diesel, it was the second price reduction this month.
Petrol price was hiked by 58 paise, excluding state levies, on September 16. After including state VAT, the hike came to 78 paise per litre in Delhi. The rate of diesel was cut by 31 paise, excluding state levies (and 35 paise after including VAT in Delhi).
"The current level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant increase in selling price of petrol and decrease in sellingprice of diesel, the impact of which is being passed on to the consumers with this price revision," IOC had said in a statement.
It said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
(With PTI inputs)
