For a while now fuel prices have been constantly dipping in the country, but this time around owing to rise in international oil prices, petrol prices have been hiked by about Rs. 3.18 per liter, whereas diesel gets more expensive by Rs. 3.09 per liter. With this the fuel price in Delhi has gone up to 60.49 per liter as against Rs. 57.31. The diesel now now costs about Rs 49.71 per litre as against Rs 46.62.
Speaking more on the occasion, a statement by Indian Oil Corp (IOC) reads, “Prices of petrol and diesel were last revised upwards with effect from February 16 by Rs 0.82 per litre and Rs 0.61 a litre respectively (including state levies at Delhi)... Since the above price revision, there has been further steep increase in international prices of both petrol and diesel. The movement of prices in international oil market and INR-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes."
A slight depreciation noted in rupee-dollar exchange range together with firming international rates warrant increase in retail selling price of petrol and diesel in the country. Since August last year petrol prices had been cut for the tenth time whereas diesel has witnessed six times drop since October last year.
