Indian Oil Corporation (IOC) has hiked prices of petrol by Rs 0.42 per litre and diesel by Rs 1.03 per litre, effective from midnight of January 15/16, 2017. IOC has informed that “the current level of international product prices of Petrol & 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 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.” Petrol will now cost Rs 71.14 per litre in Delhi, Rs 73.66 per litre in Kolkata, Rs 77.46 per litre in Mumbai, and Rs 70.61 per litre in Chennai.
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