Petrol price hiked by Rs.0.42, diesel by Rs. 1.03 per litre

New Delhi [India], Jan. 15 : The prices of petrol and diesel have been increased by Rs. 0.42 and Rs. 1.03 per litre, excluding state levies, respectively with effect from midnight of January 15. After the hike, petrol in Delhi will now cost Rs. 71.02per litre while diesel will cost Rs. 58.85. "The current level of international product prices of Petrol (and) Diesel and INR-USD 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," the official release stated.

"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," the statement added.

The price was last revised on January 2 when the petrol was hiked by Rs 1.29 a litre, and diesel rate was raised by 97 paise a litre.

Source: ANI