Indian Oil Corporation (IOC) has increased prices of petrol by Rs 1.39 per litre, excluding state levies, and that of diesel by Rs 1.04 (excluding state levies) with effect from midnight of April 16, 2017. Actual increase in price will be more after taking into account local VAT. Petrol in Delhi currently costs Rs 66.29 a litre, while a litre of diesel is priced at Rs 55.61.
The current level of international product prices of petrol and diesel and INR-USD 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.
IOC is the largest enterprise in the country and the foremost ranked Fortune Global 500 Company in India and has presence in the complete hydrocarbon value chain from downstream refining & marketing, pipeline transportation, Petrochemicals, E&P and Gas Marketing.