In the wake of rising crude oil prices in global markets, the price of petrol by Rs 3.96 per litre; Rs 2.37 per litre have increased. This increase in rates will be executed from Thursday midnight. Earlier, the price of petrol and diesel was reduced twice during the April.
As per the Indian Oil Corporation, after the hike, the price has risen up from Rs. 59.20 to Rs. 63.16 per litre and Rs. 47.20 to Rs. 49.57 per litre for petrol and diesel respectively.
The prices of petrol and diesel as well were reduced two times in April. The price was cut by 80 paise and 1.30 rupees for diesel and petrol respectively.
From August 2014 to February 2015, the prices of petrol has been reduced 10 times by Rs 17.11. The diesel price also faced a huge reduction of Rs 12.96 per litre from six cuts in span of October 2014 to February 2015.
Prices of petrol in Delhi will be Rs 63.16 a litre from tomorrow as against the current Rs 59.20; while diesel will cost Rs 49.57 per litre as against Rs 47.20, Indian Oil Corp (IOC), the nation’s largest oil company, said.
Indian Oil Corporation also said, “After the last reduction of crude oil price, the exchange market has faced a drastic change in INR-USB currencies and international prices of crude oil is also increased. Taking these two points in concern, we have commenced the hiked rates. The population will feel the impact of it, but it has to be done in no time. We have cut prices two times in April and will definitely revise the prices upcoming month if the condition stays neutral.”
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