Prices of petrol in India have been hikes by 58 paise with diesel rates have been cut by 31 paise. The recent changes have been made in line with the international trends.
This is the second time the price of petrol has been hiked this month. IN case of diesel it has wiped away a part of the hike that the hike affected earlier this month. The prices of petrol was hiked on September 1, 2016 by Rs. 3.38 per litre while diesel was hiked by Rs. 2.67 per litre.
Indian oil corp in a statement said, “The current level of international product prices of petrol and diesel and rupee-US dollar exchange rate warrant increase in selling price of petrol and decrease in selling price of diesel, the impact of which is being passed on to the consumers with this price revision”.
Meanwhile the activities at the international oil market and rupee USD exchange rate will be monitored closely and the changes in these figures will be reflected in future pricing of the fuel. The new changes in the oil rates will be effective from mid night September 16, 2016.
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