Petrol and diesel prices may be hiked again
Posted on: 04/Sep/2013 2:55:41 PM
At a time when the petrol and diesel prices were hiked last Saturday, there is shocking news that Central Government may hike the petrol and diesel prices once again. From Saturday night there was announcement that petrol price will be hiked by Rs 3 and diesel price by 50 paise. This hike has given shock to all the people. Political parties are also urging the Central Government to intervene and ask the oil companies not to hike the prices.
The hike is due to the combined impact of a constantly weak exchange rate and firm international oil prices.
Currently, the INR-USD exchange rate continues to be extremely volatile. Also geopolitical situation in the Middle-East is leading to pressure on international oil prices as well.
