Petrol and diesel prices have been raised in India by Rs 1.29 and Rs 0.97 per litre respectively. This comes hot on the heels of the recent hike in the international crude oil prices.
State-owned subsidiaries have hiked these prices starting from January 1, 2017. Post the increment, petrol in New Delhi is rated at Rs 70.60 per litre, while diesel now costs Rs 57.82 a litre. This is the third raise in petrol prices since last month and the second successive hike in diesel prices within a fortnight. These rates do not include the state levies, so the final applicable prices are expected to be slightly more.
With prices of almost all commodities increasing this year, the fuel price hike doesn't come as a surprise. In fact, Bharat Petroleum Corp (BPCL), Hindustan Petroleum Corp (HPCL) and Indian Oil Corp (IOC) revise petrol and diesel prices in India on the 1st and 16th of every month. This is basically due to the change in USD-INR exchange rates and the hike in international crude oil prices.
Source: PTI
