Fuel retailers have raised prices of petrol by Rs.3.96 a litre and diesel by Rs.2.37 a litre following an increase in the international markets.
Indian fuel retailers review local petrol and diesel prices every fortnight and make adjustments based on global rates. The retailers had lowered prices of petrol and diesel by Rs.1.30 a litre, Rs. 0.80 a litre respectively in their mid-month review in April.
Crude prices have starting moving up again in the international market after falling by about 60% between June and January. Oil prices have risen to about $66 a barrel now. The exchange rate is also an important factor in determining the landed oil price in the country that imports about 80% of the oil it consumes.
No comments:
Post a Comment