Petrol price has been raised by one rupee 23 paise per litre and diesel by 89 paise a litre in sync with rising international fuel rates.

The new rates came into effect last midnight. Announcing this, Indian Oil Corporation said, the rates have been hiked excluding local state levies or VAT and actual increase will be higher depending on tax rate.

On 16th of May, the petrol price was reduced by 2 rupee 16 paise per litre and diesel prices by 2 rupee 10 paise a litre.