Public sector oil marketing companies will increase the retail selling price of petrol and diesel by 3.18 a litre and ₹ 3.09 a litre respectively in Delhi with a corresponding increase in other States.
The increase includes State levies and will be applicable from midnight February 28/March 1.
This is the second successive price hike in the retail selling price of petrol and diesel.
“There has been a further steep increase in international prices of both petrol and diesel and the rupee-dollar exchange rate has also depreciated slightly since the last price revision. The combined impact of both these factors warrants increase in Retail Selling Prices of both Petrol and Diesel,” said Indian Oil Corporation in a statement.
“The movement of prices in international oil market and rupee-dollar exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes,” the statement added.