Indian Oil Corporation Limited has decided to effect the following price changes with effect from midnight of May 31 / June 1.
An increase in selling price of Petrol by Rs. 1.23/litre (excluding state levies)
Also, an increase in selling price of Diesel by Rs. 0.89/litre (excluding state levies)
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.
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.