INDIAN OIL CORPORATION ON OIL PRICE Hike
July 15, 2016, New Delhi : Indian Oil Corporation Ltd. has decided to effect the following price changes w.e.f. midnight of 15th / 16th July 2016
• Decrease in Retail Selling Price of Petrol by Rs. 2.25/litre at Delhi (including State levies) with corresponding price revision in other States. With this change, the price of Petrol in Delhi will become Rs. 62.51/litre.
• Decrease in Retail Selling Price of Diesel by Rs. 0.42/litre at Delhi (including State levies) with corresponding price revision in other States. With this change, the price of Diesel in Delhi will become Rs. 54.28/litre.
The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in selling prices of both Petrol and Diesel, the impact of which is being passed on to the consumers with this price revision.
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.
