Once Again Petrol Price hike due to Rupee Depreciation

Once Again Petrol Price hike due to Rupee Depreciation

Oil companies today hiked the price of petrol by Rs. 1.55 a litre, without taxes, as the falling rupee made imports costlier. The price of diesel has been kept unchanged.

Once Again Petrol Price hike due to Rupee

It should be noted that The rupee, which plays a major role in petrol pricing, finished at 59.56/57 to dollar in previous ending week on 14th July

This is a fourth increase in the price of the fuel since June thanks to depreciation of the rupee against dollar….!!!!!!!!

Once Again Petrol Price hike due to Rupee

However, we can not say that only due to depreciation of the rupee against dollar as if the dollar comes down 54-55 level, its not obvious to effect the price of petrol on down side.

Hike in fuel prices