Petrol hiked by 5 paise per litre, diesel dearer by Rs 1.26 per litre

Both petrol and diesel prices have been hiked again. Petrol price was hiked by 5 paise/ litre whereas diesel will be costlier by Rs 1.26/ litre and the new rates will take affect from midnight.

After Wednesday's increase, a litre of petrol will cost Rs. 65.65 in Delhi whereas diesel will cost Rs 55.19. 

This increase is owing to surge in global oil prices. On June 1, petrol price was hiked by Rs 2.58/ litre and diesel by Rs 2.26/ litre. 

Indian Oil Corporation said in a statement, "  The current level of international product prices of petrol & diesel and the rupee-US dollar exchange rate warrant an increase in the 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 international oil market and rupee-dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes".