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Petrol and diesel prices hiked by up to Rs 3.38 per litre

Petrol and diesel prices hiked by up to Rs 3.38 per litre
CarTrade Editorial Team CarTrade Editorial Team Thursday 01 September 2016, 12:21 PM

Petrol and diesel prices have been hiked by Rs 3.38 per litre and Rs 2.67 respectively this month. This steep hike comes after the last four back to back reductions in fuel rates.

The 13 per cent rise in the international oil rates in the last fortnight is being attributed to this fuel price hike. Petrol now costs Rs 63.47 a litre in Delhi and diesel is priced at Rs 52.94 per litre. These prices are up from last month's rates of Rs 60.09 for one litre of petrol and Rs 50.29 in case of diesel.

The revision in fuel prices this month should worry the consumers a lot now. Especially when this revision is against the trend of reduction in prices seen in the last couple of months. Petrol rate had come down by Rs 5.56 per litre and diesel by Rs 4.92 a litre.

IOC and other state-owned fuel retailers including Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) make the changes in fuel prices. These changes are made on the 1st and 16th of every month depending on the international oil rates and foreign exchange ratio. These rates will continue to be monitored by these retailers, the impact of which will be passed down to consumers.

 

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