December 20, 2025 05:05 am (IST)
Follow us:
facebook-white sharing button
twitter-white sharing button
instagram-white sharing button
youtube-white sharing button
Horror in Bangladesh: Hindu man lynched and set on fire amid violent protests | Bangladesh in flames: Student leader Sharif Osman Hadi's death triggers massive protests, media offices torched | Chaos in Dhaka! Protesters assault New Age Editor, burn down newspaper offices amid deadly unrest | After campus shootings, Trump suspends green card lottery programme | ‘Worst is over,’ says IndiGo CEO after flight chaos; staff told to ignore speculation | Chaos at Hyderabad's Lulu Mall! Nidhhi Agerwal swarmed by fans, police register case | TCS bets big on AI, shares spike as company reveals ambitious plan | Delhi goes into emergency mode! Work from home, vehicle bans as AQI hits ‘severe’ | Massive fire guts shanties near Eco Park in Kolkata; no casualties | Indian Visa Application Centre in Dhaka shuts down early amid rising security concerns

Petrol, diesel prices hiked due to Iraq crisis

| | Jul 01, 2014, at 02:31 am
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.