Petrol once again gets dearer; price rises after 2 months

The retail selling price of petrol and diesel in India is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. India imports bulk of its oil requirement through imports.

Fuel price continued to rise, while Rupee fell again to 73.93 against dollar today. (PTI)

New Delhi: After days of no rise in price, the fuel prices once again rose on Thursday. The petrol price has been increased by 9 paisa per litre. The price of petrol has therefore reached Rs 71.29 per litre in the national capital. However there has been no change in the price of diesel. This increase in petrol price has come after 2 months as prices have been only decreasing since October 18. The increase in petrol price has come a day after the results of Assembly election were declared for 5 states – Madhya Pradesh, Rajasthan, Chhattisgarh, Mizoram and Telangana. The retail selling price of petrol and diesel in India is dependent on the international prices of benchmark fuel and the rupee-US dollar exchange rate. India imports bulk of its oil requirement through imports. Soon after the results were out, there was a considerable fall in rupee value as it fell by Rs1.10. Even the sensex observed a huge fall soon after the results were out.