Third time in a month petrol, diesel prices hiked on global cues

New Delhi : The new year is not being very happy with the petrol and diesel prices as a new hike has been registered on Sunday evening. This is the third time petrol prices are being revised in last one month.

Petrol will see a hike of 42 paisa a litre, while diesel price has surged to Rs. 1.03 a litre. The new hike, excluding state VAT, will be effective from Monday.

After including VAT, the hike in Delhi comes to 53 paisa and in case of diesel it will be Rs. 1.20 a litre.

Petrol will cost Rs. 71.13 a litre from midnight as against Rs. 70.60 currently. Similarly, a litre of diesel will be priced at Rs. 59.02 as opposed to Rs. 57.82 currently.

"The current level of international product prices of petrol and diesel and Rupee-US Dollar 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," NDTV quotes IOC statement.

The rates have been revised in accordance to the oil prices in the global market. A close eye will be kept on the trend to initiate further changes.