Hike in Petrol & Diesel Rates
A hike is observed in fuel rates in the country. Price of petrol increased by 36paise per litre and diesel by 87paise on Sunday. Hiked rates came into effect from midnight yesterday. Petrol which was earlier priced at Rs.60.70 will now cost Rs.61.06 and diesel which was priced at Rs.45.93 is now up to Rs.46.80. “The current level of international product prices of petrol and diesel and Indian Rupee-US Dollar exchange rate warrant an increase in prices, the impact of which is being passed on to the consumers with this price revision,” said Indian Oil Corporation in a statement. Fuel retailers like IOC, BPCL, HPCL revise petrol and diesel rates on 1st and 16th of every month based on imported cost and rupee-dollar exchange rate.