INSUBCONTINENT EXCLUSIVE:
Petrol and diesel prices were hiked on
That marked a second increase in petrol and diesel rates this month
On May 14, the prices were raised after a 19-day hiatus, a day before Karnataka election results
With Tuesday's increase, petrol price in Delhi is at a fresh 56-month peak and the price of diesel has registered a new all-time high
With effect from 6:00 am on May 15, petrol retailed at Rs 74.95 per litre in Delhi, Rs 77.65 per litre in Kolkata, Rs 82.79 per litre in
Mumbai and Rs 77.77 per litre in Chennai, according to Indian Oil Corporation
Diesel prices were at Rs 66.36 per litre, Rs 68.9 per litre, Rs 70.66 per litre and Rs 70.02 per litre respectively
litre)15-May14-May31-Mar31-Dec15-May14-May31-Mar31-Dec74.9574.873.5569.9766.3666.1464.459.6477.6577.576.2672.7268.968.6867.0962.382.7982.658
1.4177.8770.6670.4368.5863.2777.7777.6176.2972.5370.0269.7967.9362.83(Source: iocl.com)Compared with the previous day's rates, petrol prices
were increased by 15 paise a litre in Delhi and Kolkata, 14 paise a litre in Mumbai, and 16 paise a litre in Chennai, according to Indian
Delhi Petrol Pumps)Indian Oil chairman Sanjiv Singh had last week said that the state-owned firms were "temporarily moderating" prices to
avoid sharp spikes and panic among consumers, according to news agency Press Trust of India.Domestic petrol and diesel prices are determined
and Rs 5.24 per litre in Chennai, data from Indian Oil showed
Diesel prices have gone up by Rs 6.72 per litre, Rs 6.6 per litre, Rs 7.39 per litre and Rs 7.19 per litre respectively
During this period, the rupee has weakened more than 5 per cent against the US dollar.Weakness in the rupee against the greenback makes
import of crude oil more expensive for Indian companies
Crude oil is the biggest item on the import bill of India, which imports more than 80 per cent of its crude oil requirements.(Also read:
Government Rules Out Excise Duty Cut To Cushion Petrol Prices)Currently, petrol and diesel prices are reviewed on a daily basis, and the
state-run oil marketing companies since June 2017.For the latest Election Results Live Updates from Karnataka log on to
TheIndianSubcontinent.com
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