Telangana News

Witnessing the fourth increase in the last 2 weeks, petrol price was now hiked by 42 paise per litre and diesel by Rs. 1.03, which is the second hike in a fortnight.

The oil companies have announced that, the current hike would exclude state levies and the actual hike will be higher. The hike in Delhi after including VAT, comes to 53 paisa if its petrol and Rs. 1.20 if its diesel.

Petrol will cost Rs 71.13 a litre from midnight as against Rs 70.60 currently. Similarly, a litre of diesel will be priced at Rs 59.02 as opposed to Rs 57.82 currently.

It is known that the Indian Oil Corp (IOC), Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL) revise rates on every fortnight (1st and 16th of every month) based on average international price in the previous fortnight.

"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 diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement.