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IOC hikes petrol price by 72 paise a litre from midnight

By The Assam Tribune

New Delhi, Oct 16 (PTI) - Indian Oil Corporation, the nation's largest fuel retailer, today hiked petrol prices by 72 paise a litre effective midnight tonight.

IOC sources said after the hike, petrol in Delhi will cost Rs 52.55 a litre and the rate in other cities will vary depending on local taxes and levies.

While Bharat Petroleum Corporation Ltd had yesterday announced a 70 paise per litre increase in petrol prices, Hindustan Petroleum Corporation is expected to follow suit in a day or two.

The three oil companies no longer revise petrol prices in tandem to avoid being accused of acting as a cartel. The three companies also do not have a uniform price for petrol with IOC selling the fuel three paise cheaper than BPCL. Petrol at HPCL is 1 paise cheaper than BPCL.

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IOC hikes petrol price by 72 paise a litre from midnight

New Delhi, Oct 16 (PTI) - Indian Oil Corporation, the nation's largest fuel retailer, today hiked petrol prices by 72 paise a litre effective midnight tonight.

IOC sources said after the hike, petrol in Delhi will cost Rs 52.55 a litre and the rate in other cities will vary depending on local taxes and levies.

While Bharat Petroleum Corporation Ltd had yesterday announced a 70 paise per litre increase in petrol prices, Hindustan Petroleum Corporation is expected to follow suit in a day or two.

The three oil companies no longer revise petrol prices in tandem to avoid being accused of acting as a cartel. The three companies also do not have a uniform price for petrol with IOC selling the fuel three paise cheaper than BPCL. Petrol at HPCL is 1 paise cheaper than BPCL.