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Fuel price hiked after a month-long relief

Petrol and diesel prices on Thursday were hiked for the first time after a relief of one month as international rates are on the rise and rupee is on a decline.

The increase of 16 paisa a litre in petrol and 12 paisa per litre in diesel came after an 8-day self-imposed hiatus in rate revisions by state-oil firms in anticipation of softening international rates due to OPEC decision to raise output by 1 million barrels per day.

The hike comes after an 8-day self-imposed hiatus in rate revisions by state-oil firms in anticipation of softening international rates due to OPEC decision to raise output by 1 million barrels per day.

After this hike, the price of petrol on Thursday stood at Rs 75.71, while a litre of diesel was sold at Rs 67.50.

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