Price of Petrol Rises, Diesel Reduced

After the steep hike in the price of both petrol and diesel on September 01, 2016, the price of petrol has been increased again, whereas diesel rates have been reduced. The cost of petrol has gone up by Rs 0.58 per litre and that of diesel reduced by Rs 0.31 per litre. As a result, the revised prices in Delhi are now Rs 64.21 per litre for petrol and Rs 52.59 per litre for diesel.

Last time, the rise in the fuel prices was witnessed after two months. In those two months, the price of petrol went down by Rs 5.56 per litre and that of diesel went down by Rs 4.92 per litre. But the month of September has not been very kind. After the previous hike of Rs 3.38 per litre, the price of petrol has further witnessed a jump of Rs 0.58 per litre. Diesel, on the other hand, witnessed a hike of Rs 2.67 and now has been reduced slightly – by Rs 0.31 per litre.

The statement from Indian Oil Corporation Limited reads, "The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant increase in selling price of Petrol and decrease in selling prices of Diesel, the impact of which is being passed on to the consumers with this price revision. The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes."

Petrol and Diesel price in various cities

Fluctuation witnessed since May

The fluctuation in prices this time is minimal and it barely affects the steep hike we saw last time. We hope the prices come down in future and bring some relief to Indian commuters.

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