New Delhi: Petrol price was on Sunday hiked by a marginal 1 paisa per litre and diesel by 44 paisa a litre, the second increase in rates this month.

The hike, which will be effective from midnight Sunday, comes on the back of Rs1.39 per litre increase in petrol and Rs1.04 a litre raise in diesel rates effected from 16 April.

Indian Oil Corp (IOC), the nation’s largest fuel retailer, said the price of petrol is being increased by Rs0.01 per litre and that of diesel by Rs0.44—both excluding state levies. Actual increase in price will be more after taking into account local VAT.

In Delhi, the price of petrol went up from Rs68.07 per litre to Rs68.09 while that of diesel from Rs56.83 to Rs57.35 a litre. “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," IOC said in a statement.

The movement of prices in the international oil market and INR-USD exchange rate will continue to be monitored closely and developing trends of the market will be reflected in future price changes, it said.

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