Fuel prices were hiked for the third consecutive occasion since December 2016. With effect from the night of 15th January 2017/16th January 2017, petrol and diesel prices will be increased by INR 0.42 per litre and INR 1.03 per litre respectively.
Indian Oil Corporation issued an official statement regarding the price hike that said, “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. 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.”
Following are the new city wise prices for petrol and diesel (including state levies):
Petrol
| Cities | Old Prices | New Prices |
| Delhi | 70.60 | 71.14 |
| Kolkata | 73.13 | 73.66 |
| Mumbai | 76.91 | 77.46 |
| Chennai | 70.07 | 70.61 |
Diesel
| Cities | Old Prices | New Prices |
| Delhi | 57.82 | 59.02 |
| Kolkata | 60.06 | 61.27 |
| Mumbai | 63.61 | 64.89 |
| Chennai | 59.47 | 60.73 |