Petrol price hike by 5 paise, diesel by ₹ 1.26

 Again Petrol price was raised on Wednesday by ₹5 paise per litre and diesel by ₹1.26, with immediate effect from midnight. In Delhi Petrol costs ₹65.65 per litre it was hiked  to ₹65.60 per litre presently, its announced by Indian Oil Corp. And the diesel will cost ₹55.19 per litre as against ₹53.93 a litre currently. This is fourth time of increase in auto fuel prices from May 1st.   Petrol rates in four hikes have been raised by ₹4.52 per litre, while diesel rates have gone up by ₹7.72 per litre. The present level of international product prices of petrol and diesel and Rupee-US Dollar exchange rate warrant. After discounting the April 16 reduction petrol prices have raised by ₹9.04 per litre since mid-March and diesel by ₹11.05 per litre. The movement of prices in international oil market and Rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,Indian Oil Corp said in an statement.