Petrol is always in the limelight of Government machinery, it seems that they just look for a chance to hike its prices and Union Budget remains the soft(est) target ever. After all, most of government officials do possess a stake in petrol companies so therefore no possibility for settling down on a lesser note.
Getting to the point, Petrol is now once again hiked by Rs. 1.4/liter, a big increase within a gap of not more than one month. It is being said that increase in international oil price was a due on the depreciating rupee value.
Totally, one has to shell out Rs. 77.66/liter against the previous rate of 75.89/liter in India’s financial capital Mumbai, while Delhi(ites) would be doing with Rs. 70.74/liter against the recent tag of Rs. 75.89/liter.
However dusting off the rubbish from its shoulder, IOC says, “The price increase has been necessitated by two factors — the international gasoline (petrol) prices have increased from USD 128.57 per barrel to USD 131.00 a barrel since the last revision; and the rupee has depreciated from Rs 53.43 to Rs 54.15 per US Dollar during the period.”
Undoubtedly diesel will also be affected, while no comments for this one because we all of us know how our Government cleans off their hands from such responsibilities; but atleast they should think once because diesel too is used in other poor-man’s application and not only for automobiles itself.