Oil marketing companies (OMCs) hiked petrol price by Rs. 1.39 a litre and diesel price by Rs. 1.04 a litre excluding state levies w.e.f midnight of April 16, 2017. With this revision the new price of petrol and diesel in state of Delhi is Rs 68.07 a litre and Rs 56.83 a litre.

Commenting on the price oil marketing companies, largest OMC, Indian Oil Corporation (IOCL) said, ''The current level of international product prices of Petrol & 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.''

''The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes. Also, IOCL intends to shortly start daily changes in price of Petrol and Diesel based on movement of prices in international market, on pilot basis, in the cities of Udaipur, Jamshedpur, Pondicherry, Chandigarh and Vizag,'' it added.