In a massive hike of fuel prices in the recent days, petrol and diesel prices have been increased by Rs 3.38 and Rs 2.67 per litre respectively. This is the single largest hike of the recent times after the prices were cut down four times in the last couple of months. The price hike is seen as a result of 13 per cent hike in international oil rates.
The price of the petrol in Delhi stands at Rs 63.47 a litre as compared to the earlier price of Rs 60.09, while the diesel will cost you Rs 52.94 per litre as compared to Rs 50.27 earlier. The prices are applicable from midnight of 1st September, 2016. Rates were last cut on 16th August, 2016, when Rs 1 and Rs 2 were reduced from petrol and diesel respectively.
While the diesel car owners won't face any burden as only Rs 0.67 are increased when compared to the last 15 days (diesel was priced at Rs 52.27 per litre on 15th August), petrol car owners are feeling the heat. The petrol prices are increased by Rs 2.38 litre in the last 15 days, where petrol was retailing at Rs 61.09 on 15th August, 2016.
Compare it to the reductions from the last two months, when petrol and diesel prices were reduced 4 times, the hike seems massive. Petrol prices came down by Rs 5.56 per litre while the diesel prices came down by Rs 4.92 a litre.