Petrol price hiked by Rs. 1.63

New Delhi, Sept 12 :State run oil companies on Friday said that petrol prices would go up by Rs. 1.63 per litre from Saturday, owing to the dismal exchange rates and stiff prices of international crude.

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)

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