Petrol Prices

Price hiked in petrol by Rs.1.39 per litre and diesel by Rs.1.04 on Sunday 16th April 2017.
Last night once again the news stroked for the price hike in Petrol and Diesel by the government, which curtail down the relaxation of the people which was being enjoyed since 1st of April 2017. In the starting of the month, there was a price down in Petrol by Rs 4.85 per litre and Diesel by Rs 3.81. The decision was taken by the Indian Oil Corp which the largest retailer of fuel is, that there will be an increase in the fuel excluding the state levies from the midnight of 15th April 2017.

The actual prices will be declared after including the local VAT(Value Added Tax). Currently, the price of petrol in Delhi is Rs 66.29 per litre and of diesel is Rs 55.61. According to the statement from the Oil marketing company “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”.

The actual prices will be declared after including the local VAT. Currently, the price of petrol in Delhi is Rs 66.29 per litre and of diesel is Rs 55.61. According to the statement from the Oil marketing company “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”.

The price hikes in the petrol and diesel rates fluctuate due to the INR-USD exchange prices in the international market, whose effect is being passed on to the customers in the result of price revision. In coming days there will be a pilot project executed in the selected cities for the revision of petrol and diesel prices on the regular basis, as per the intention of Indian Oil Corp.

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