Fuel prices have been hiked in India. Petrol will now cost 5 paise per litre more, while diesel will cost more by Rs. 1.26/litre. The prices were hiked effective Wednesday (15th June) midnight.
This is the fourth time fuel prices have gone up since May 1, 2016. The last update was on June 1, 2016 when petrol saw an increase of Rs. 2.58 per litre and diesel by Rs. 2.26 per litre.
In the last four hikes combined, petrol has seen an increase by Rs. 4.52 per litre and diesel by Rs. 7.72 per litre.
Indian Oil Corp (IOC), India's largest fuel retailer announced, "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."