Strike three for fuel prices

| Friday, June 3, 2016 - 12:44
First Published |
Petrol, fuel, diesel, fuel prices

Strike three for fuel prices

New Delhi: As part of the fortnightly revision of the fuel prices, the cost of petrol and diesel have been increased. Petrol has undergone a hike of Rs 2.58 per litre, whereas diesel has been increased by Rs 2.26 per litre. The fuel prices in Delhi are now Rs 65.60  for petrol and Rs 53.93 per litre for diesel, courtesy the revision. The last revision took place on May 17 when the prices were increased by 83 paise (petrol) and Rs 1.26 (diesel) per litre.
Petrol and diesel prices are revised in the beginning and middle of every month. The prices are revised based on the average oil price and the Rupee to Dollar exchange rate of the previous fortnight. Indian Oil Corporation Limited in a statement said, "The current level of international product prices of petrol & diesel and rupee-dollar exchange rate warrant increase in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision. The movement of prices in the international oil market and rupee-dollar exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes."
Here is list of the fuel price fluctuations over the course of last two months
Month           Status   Petrol (per litre)  Diesel (per litre)
April Start     Hike     Rs 2.19                   Rs 0.98
April Mid      Lower  Rs 0.74                   Rs 1.30
May Start      Hike     Rs 1.06                   Rs 2.094
May Mid      Hike      Rs 0.83                   Rs 1.26
June Start      Hike      Rs 2.58                  Rs 2.26
We sincerely hope that these escalating fuel prices will soon take a dip to bring some relief to daily commuters.


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