During first fortnight of September'13, average International prices of Petrol have gone up from USD 114.44/ bbl to USD 117.40/bbl. The average INR USD Exchange rate has also deteriorated further from Rs. 63.88/USD to Rs. 66.02/USD . To give effect to these twin reasons, the Corporation is required to increase Petrol prices by Rs. 1.63 (excluding VAT) w.e.f. midnight of 13th-14th September 2013," Indian Oil Corporation (IOC) said in a statement .
Prices of petrol went up by Rs 2.35 per litre, excluding taxes, from Sept 1.
After the latest hike. petrol price will be Rs. 76.06 per litre in New Delhi.
--IBNS (Posted on 14-09-2013)