News

Petrol price up by 58p a litre

by IBNS 16 Sep 2016, 10:25 am

New Delhi, Sept 16 (IBNS): Consumers are paying more money for a litre of petrol as the new price of it came into effect from midnight on Friday.

Petrol price was increased by  58 paise a litre.

"Increase in Selling Price of Petrol by Rs. 0.58/litre (excluding State levies)," state-run oil company Indian Oil Corporation (IOC) said in a statement.

However, price of diesel has been slashed by 31 paise per litre.

"Decrease in Selling Price of Diesel by Rs. 0.31/litre (excluding State levies)," read the statement.

The IOC said the current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and decrease in selling prices of diesel, the impact of which is being passed on to the consumers with this price revision.