Petrol price increased by Rs3.38 a litre, diesel costlier by Rs2.67

State-owned oil marketing companies have increased the retail selling price of petrol by Rs3.38 a litre and for diesel by Rs2.67 a litre in Delhi on Wednesday. The price increase is inclusive of state levies and will vary from state to state and will be effective midnight 31 August / 1 September.

Petrol will now cost Rs63.47 a litre in Delhi while diesel will cost Rs52.94 a litre.

A litre of non-branded petrol will cost Rs68.40 in Mumbai, Rs66.84 in Kolkota and Rs63.02 in Chennai.

Similarly, a litre of non-branded diesel will cost Rs58.48 in Mumbai, Rs55.15 in Kolkata and Rs54.43 in Chennai.

"During the current fortnight, crude oil prices in the international market have witnessed a steep increase by 13 per cent (over $ 5 per barrel) compared to previous fortnight, with a corresponding increase in the international prices of petroleum products. The current level of international prices warrant an increase in prices of petrol and diesel, the impact of which is being passed on to the consumers," Indian Oil Corporation said in a statement.

OMCs had reduced the retail prices of petrol and diesel on four occasions in the last two months on the back of decreasing international oil prices. As a consequence, the prices in Delhi were reduced by Rs5.56 per litre for petrol and Rs4.92 per litre for diesel.

The movement of prices in the international oil market and rupee-US dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes," the company added.