There is another hike in petrol price as now a litre costs INR 61.87 for a litre. The increase has been of INR 2.19. While diesel too has seen an upward movement in price by 98p to INR 49.31 for a litre (both prices in New Delhi). This has been a second consecutive hike in petrol and diesel prices in last 15 days. The total hike has been of INR 3.09 for petrol and INR 1.90 for diesel.
The reasons stated for this is the hike in the rates for crude oil and even the US-INR exchange rate that has been affected.
"The current level of international product prices of petrol and diesel and the rupee-US dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to consumers with this price revision. The movement of prices in the international oil market and the rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price change,." Indian Oil Corporation mentioned this in a statement.
The reasons stated for this is the hike in the rates for crude oil and even the US-INR exchange rate that has been affected.
"The current level of international product prices of petrol and diesel and the rupee-US dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to consumers with this price revision. The movement of prices in the international oil market and the rupee-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price change,." Indian Oil Corporation mentioned this in a statement.
Source : MotorOctane
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