Petrol Prices Increase By Rs. 5 Per Liter

Bad news for the public! Midnight of May 14th brought Rs5 per litre hike in the petrol prices. This price became effective from May 15. Nonetheless, the increase in the petrol prices was way higher than it was expected. Earlier, speculations suggested that petrol prices would go up approximately Rs3 per litre, but it turned out to be Rs5 per litre change.

After the hike, the new petrol prices in New Delhi are Rs63.37 per litre, which was earlier Rs58.37 for one litre of petrol. Nonetheless, this hike in prices will not actually solve the basic intention of the oil firms and they are still likely to face pretty high losses as these companies are losing approximately Rs5.50 on every one litre of petrol.

Even diesel prices are also rumored to increase. According some reports, there could be around Rs4 per litre increase in the rate of diesel too. The well-known BPCL or Bharat Petroleum increased Rs4.99 on petrol, on the other hand, Hindustan Petroleum hiked the price to a whopping Rs5.01 per litre on petrol. As per the unconfirmed reports, the price could have been hiked by Rs10.50 per litre, but in order to avoid public ire it was increased by just half.

Bikes like Hero Honda Splendor, Yamaha SZ, TVS Falme, Bajaj Discover and Honda CB Twister, which are said to be highly fuel efficient need to work hard on making their bikes more fuel efficient as this soaring hike in the petrol prices will act as a burden on common man.