Four consecutive decreases in fuel prices in last two months saw a reduction in petrol and diesel prices in Delhi by Rs. 5.56 per litre litre for petrol and Rs 4.92 per litre for diesel.
Today’s hike in price rise has been attributed to the steep rise in crude oil prices in the international market.
“During the current fortnight, crude oil prices in the international market have witnessed a steep increase by 13% (over $ 5/bbl) compared to previous fortnight, with a corresponding increase in the international prices of petroleum products,” a press release by Indian Oil Corporation said.
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