Petrol price is raised by 89 paise per litre, the sixth increase in rates since September, and diesel by 86 paise a litre, the third increase in a month. The price hike announced by Indian Oil Corp (IOC) is excluding local sales tax or VAT and is already in effect from November 6, 2016. After including VAT, petrol in Delhi is costing Rs 67.62 a litre, up Rs 1.17 from Rs 66.45 per litre currently. Similarly, diesel is costing Rs 56.41 a litre after including VAT in Delhi, up Rs 1.03 as compared to Rs 55.38 at present.
In case of diesel this is the third price increase in a month, the previous being of Rs 2.77 per litre on October 16. The three price increases total to Rs 3.90 a litre. IOC said the movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes.
Article source : www.timesofindia.com