Petrol prices in India are known to be fluctuating every now and then. The prices of fuel have been hiked once again in the country – by 41 paise per liter without taxes – on December 20, 2013. The decision to increase prices has been made after the Indian government decided to raise commission paid to petrol pump dealers, as well as firming global oil rates.
Even the rates of diesel have been hiked in the country by 10 paise per liter. The increase of the petrol and diesel rates will become effective from December 21, 2013. So far, the state-owned oil firms have been restraining themselves from increasing oil prices, despite weakening of the Indian rupee against the American dollar.
This time, the companies took advantage of the government’s decision to raise dealer commission on the fuel by 21 paise in order to effect another 20 paise increase. Currently, the price of petrol in Delhi is Rs. 71.02 per liter and after the revision on Friday, December 20, 2013, the price will be increased to Rs. 71.50 per liter. Even the diesel rates will go up marginally – from Rs. 53.67 per liter to Rs. 53.80 per liter – in Delhi.
The rates of fuel are usually revised on the 1st and the 16th of every month, based on the global trends in previous fortnight.
Photo Credits: Reuters