Petrol and Diesel Face Price Hike of 36p and 87p Respectively
As a result of change in INR-USD exchange rates, the oil prices in India have been affected. This time, the prices have gone up by 36p and 87p for petrol and diesel respectively....
As a result of the change in INR-USD exchange rates, the oil prices in India have been affected. This time, the prices have gone up by 36p and 87p for petrol and diesel respectively. As a result, the prices in Delhi have now become Rs. 61.06 per litre for petrol and Rs 46.80 per litre for diesel. The impact of the international exchange rate has been directly passed on to the customers. USD is growing strongly in the international market which is one of the reasons for this price hike.
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In a statement, Indian Oil Corporation said, “The current level of international product prices of Petrol and Diesel and Rupee-Dollar exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision." Recently, the Indian Government imposed more duty on fuel, which led to an increase in prices. Also, this revision will take place more often, ideally on every fortnight so that the oil companies do not get affected by the changing market rates.
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