On Thursday, the Petrol price was increased by Rs. 1.23 per litre and diesel by 89 paise a litre.
Announcing the price raised, Indian Oil Corp (IOC) said, "the rates have been hiked excluding local state levies or VAT and actual increase will be higher depending on tax rate."
“The current level of international product prices of petrol and diesel and INR—USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” IOC said in a statement.
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