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The revision in rates announced by Indian Oil Corp is excluding VAT and the actual change will be higher after considering them
Petrol price was, on Wednesday, hiked by a marginal 13 paisa a litre while diesel rates were cut by 12 paisa in line with global trends.
The revision in rates announced by Indian Oil Corp (IOC), the nation's biggest fuel retailer, is excluding state levies (VAT) and the actual change will be higher after considering them.
Petrol in Delhi will cost Rs 66.10 a litre from midnight tonight, 17 paisa more than Rs 65.93 a litre currently.
Similarly, a litre of diesel will cost Rs 54.57, 14 paisa lower than Rs 54.71 a litre currently.
Prices were last revised on November 16 when petrol rate went up by Rs 1.46 a litre and diesel by Rs 1.53 per litre, excluding state levies.
"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 decrease in selling prices of diesel, the impact of which is being passed on to the consumers with this price revision," IOC said in a statement.
It said the movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.