Get ready to pay some more for petrol and diesel, as the fuel prices in India are appear to be soaring, making it difficult for the common man to commute.
The petrol price has been hiked by 5 paise/litre and diesel by Rs. 1.26/litre, making this the fourth increase in the past 6 weeks.
Petrol will cost as high as Rs. 65.65/litre in Delhi from 16th June, 2016, contrary to its preceding price of Rs. 65.60/litre, announced the nation’s largest fuel retailer, The Indian Oil Corp (IOC).
Similarly the second primary fuel used in the country, diesel, will now cost Rs. 55.19 against the current Rs. 53.93 per litre.
This is the fourth major increase in auto fuel prices since the beginning of May. With a history of hiking the price by Rs. 2.58/litre from June 1 and diesel by Rs. 2.26 a litre, the following oil prices are crossing USD 50 per barrel mark.
The diesel prices have been raised quite heavily as compared to the petrol prices, where the prices was raised by Rs. 7.72/litre while the diesel rates have gone up by Rs. 4.52/litre.
“The current level of international product prices of petrol ad diesel and Rupee US-Dollar exchange rate warrant increase in selling price of petrol and diesel, the impact of which is being passed on the consumers with this price revision.” said the IOC in a statement.
“The movement of prices in the international oil market and Rupee USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes,” reported The Times of India.
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Tags: Diesel Price Hike Petrol price hike Price hike
