Petrol Price hiked fourth time in six weeks in India. The new hike reads 43 Paisa per Liter on Petrol and Rs 1.03 per Liter on Diesel. The authority confirmed that the rate would be applicable from the Jan 15 Midnight.
The increasing cost of the Petrol Price has been seen as the burdening the consumer by many. However, the authorities say that the Petrol Price hike is due to the INR-USD exchange rate and the international oil rates. However, the ever increasing rate has caused more pain to the consumers who are already suffering from other issues. The Demonetization has already made huge economic backlash in India and the Government demands that it is for the shorter period of time. However, the increasing price and increasing rates can further dent the small vendors. It may not impact the salaried by a large amount, but the mid and small vendors can suffer a lot with this.
The last Petrol Price hike came in January 2nd when the Petrol was hiked by 1.29 per liter and diesel was raised by 97 Paisa per liter. The Statement that declared that the price has been hiked has also made it clear that the government and the authority will closely monitor the situation and take actions based on it.
The price of Petrol in Delhi would 71.02 per Liter now and the Diesel would be 58.95 per Liter.
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