Petrol And Diesel Prices Rise by 36p and 87p Respectively

As a result of change in INR-USD exchange rates, the oil prices in India have been affected. Sadly, this time, they have gone up by 36p for petrol and 87p for diesel. Outcome, prices in Delhi have now become Rs. 61.06 per litre for petrol and Rs 46.80 per litre for diesel. The impact of 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.

Indian Oil Corp said in a statement, “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. The oil companies evaluate prices every 1st and middle of every month based on rupee-dollar exchange and import cost in the previous fortnight.

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