Hike in Petrol, Diesel prices from Thursday

New Delhi : Petrol gets costlier by Rs 1.23 per litre, while diesel price per litre will be higher by 89 paise excluding state levies from Thursday, the Indian Oil Corporation announced on Wednesday.

Prices of the two main transportation fuels were last hiked on May 1, when petrol price was increased by 1 paise per litre, while that of diesel was raised by 44 paise a litre.

"The current level of international product prices of petrol and diesel and INR-USD (Indian 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," the oil marketing company said in a statement.

"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."