Indian Oil Corporation ltd. has raised the price of petrol by 13 paise per litre (excluding state levies) and cut the price of diesel by 12 paise perlitre (excluding State levies)
The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant increase in selling price of petrol and cut in that of diesel, the impact of which is being passed on to the consumers with this price revision.
“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,” IOC said in a statement.
The revision in rates announced by Indian Oil Corp (IOC), the nation’s biggest fuel retailer, is excluding state levies (VAT) and the actual change will be higher after considering them.