Petrol hiked by Rs.2.19/litre, diesel by 98 paise

State-run Indian Oil Corp (IOC) hiked transport fuel rates from Tuesday, 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 here. 

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. 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. #casansaar(Times of India)