The common man is set to be more burdened in the coming days as the state-run (IOC) hiked transport fuel rates , increasing petrol by Rs.2.19 a litre and diesel by 98 paise — both at Delhi, with corresponding increase in other states, on the back of a further hardening of global crude oil rates.
“The current level of international product prices of petrol and diesel and the INR-USD exchange rate warrant increase in prices of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement .
Petrol per litre now costs Rs.61.87 in Delhi, Rs.65.48 in Kolkata, Rs.67.96 in Mumbai and Rs.61.32 in Chennai
The price of diesel per litre is Rs.49.31 in Delhi, Rs.51.58 in Kolkata, Rs.56.09 in Mumbai and Rs.50.09 in Chennai.
The latest increase follows a stiffer hike of Rs.3.07 a litre on petrol and Rs.1.90 a litre in diesel rates effected on March 17.
While this is the second straight increase in petrol price, this is the fourth straight fortnightly increase in diesel rates. The three hikes in diesel rates since February 16 total Rs 3.65 per litre.
“The current level of international product prices of petrol and diesel and the rupee-US dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to consumers with this price revision,” IOC said in a statement.
The Indian basket of crude oils, composed of 73 percent sour grade Dubai and Oman crudes and the rest by sweet grade UK Brent, closed trade on Friday at $36.58 a barrel of 159 litres as per official data, after having fallen to around $25 earlier in the year. (IANS)