April 01, 2026 11:03 pm (IST)
Follow us:
Petrol, diesel prices hiked due to Iraq crisis
New Delhi, June 30 (IBNS): State-run oil company Indian Oil Corporation (IOC) on Monday said petrol prices would be hiked by Rs 1.69 per litre while diesel prices would go up by 50 paise per litre.
The new prices, which will come to effect from Monday night, is result of the ongoing crisis in Iraq, IOC said.
"Due to geo-political unrest in the Middle East, there has been significant increase in international oil prices during the past two weeks. The international prices of MS have increased by more than USD 4/bbl, and the INR-USD exchange rate has also deteriorated. The combined impact of both these factors has warranted an increase in Petrol prices by Rs. 1.69/ litre (excluding state levies)," IOC said in a statement.
IOC said that diesel rates were hiked in continuation with the previous UPA government's January 2013 policy of raising prices in small doses every month to eliminate subsidy.
The Corporation further said, that it continues to suffer a loss Rs 33.07 a litre on kerosene sold through the public distribution system (PDS) and Rs 449 per 14.2-kg domestic subsidised LPG (cooking gas) cylinder.
Support Our Journalism
We cannot do without you.. your contribution supports unbiased journalism
IBNS is not driven by any ism- not wokeism, not racism, not skewed secularism, not hyper right-wing or left liberal ideals, nor by any hardline religious beliefs or hyper nationalism. We want to serve you good old objective news, as they are. We do not judge or preach. We let people decide for themselves. We only try to present factual and well-sourced news.
Support objective journalism for a small contribution.
Latest Headlines
Amit Shah to join Suvendu Adhikari on Bhabanipur nomination day; BJP plans mega roadshow
Wed, Apr 01 2026
Bengal SIR progress: 47 lakh of 60 lakh adjudicated cases disposed of, Supreme Court informed
Wed, Apr 01 2026