July 1, 2014 8:59 AM

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Petrol dearer by Rs. 1.69 per litre, diesel by 50 paise

The Petrol became dearer by one rupee 69 paise and diesel by 50 paise per litre excluding VAT. The new rates came into force from midnight last night.In a statement, Indian Oil Corporation said that the petrol price has been hiked due to significant increase in international oil prices during the past two weeks.The diesel rate has been increased in pursuant to government's earlier order in which it had authorized the Oil Marketing Companies to increase the retail selling price within a small range every month until the under-recovery is wiped out.Meanwhile, Tamilnadu Chief Minister Ms.Jayalalithaa has appealed to Prime Minister Narendra Modi to roll back petrol and diesel prices noting that this would trigger prices of essential commoditie.

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