The hikes in prices have come after the price cuts of Rs 2.16 per litre in petrol prices and Rs 2.1 per litre in diesel prices as on May 16, 2017.
"The current level of international product prices of petrol and diesel and INR-USD exchange rate warrant decrease in selling price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision," IOC reported in a statement to leading business news agency.
The government-owned oil companies have been trading in red zone in the morning hours on Thursday. IOC is the top loser in BSE Oil and Gas index trading lower by 2.18% at Rs 422 per share. BPCL, OIL and ONGC are also losing their sheen in the morning hours.
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