The fuel prices have been hiked a second time within a span of only 4 days just for the increase of commission which needs to be paid to the dealers.
In Delhi petrol price has been hiked by 14 paise while the diesel price has gone up by 10 paise. Now petrol is priced at 64.72 per litre whereas diesel is priced at 52.61 per litre in Delhi. This price hike came soon after the recent price hike of petrol on 1st October, where prices were increased by 37 paise per litre. The price of diesel though was reduced to 8 paise per litre at that time
State owned retailers like IOC and BPCL revises the price of fuel on 1st and 16th of every month, which is based on average oil prices and foreign exchange rate. However this time the fuel became expensive just for the commission needs to be paid to all the pumps.
With the festive season around the corner, car companies such as Volkswagen, Tata, Toyota, and Maruti Suzuki are offering benefits to its new and existing customers. With the surge in fuel prices, the sales of passenger vehicles might be hampered even after all the lucrative offers. In the month of September, Indian Auto industry registered a massive growth of 21 percent. Manufacturers such as Maruti Suzuki, Hyundai, Honda, Renault and Nissan registered most sales numbers and grew massively. Even home grown manufacturer like Tata motors, registered sales hike, but with the fuel price hike the growth of the auto industry might slow down.
Next time when you visit the fuel filling station be ready to pay a bit extra than before. So say no to spirited driving and save fuel which will help you in saving your bucks by conserving fuel for a longer time