It was a long time, the petrol and diesel saw the hike in its prices. Now they are again increased in the country.
Presently in Hyderabad, the present price of petrol per litre is Rs.71.42 and the diesel is Rs.56.00. The past rates of it are Rs. 67.22 and Rs.53.40 respectively. The hiked prices had come into implementation from Thursday midnight itself.
If this is the case in Hyderabad, at Delhi, the price of petrol is Rs.63.16 where its past price is Rs.59.20. Whereas the diesel prices are increased from Rs.47.20 to Rs.49.57.
It was known that on April 2nd, the price of the petrol was decreased by Rs.0.49ps and the diesel by Rs.1.21. Within few days, that is on April 16th, there was again a fall the price of petrol by Rs.0.80ps and diesel by Rs.1.30.
Based on the average imported cost and rupee-dollar exchange rate in the previous fortnight, the prices of petrol and diesel will be altered accordingly on 1st and 16th of every month by State-owned fuel retailers IOC, Bharat Petroleum Corp (BPCL) and Hindustan Petroleum Corp (HPCL)
"The movement of prices in international oil market and rupee-USD exchange rate shall continue to be closely monitored and developing trends of the market will be reflected in future price changes," IOC said.
Between August and February, the prices were cut by Rs 17.11 per litre in 10 reductions and and diesel by Rs 12.96 a litre in 6 reductions between October and February.
The position may be different on May 16th again. As said, it will be dependent on the exchange value of the rupee on that day.