NEW DELHI: State oil firms have announced a steep increase in petrol rates, raising pump price of the fuel by Rs 1.96 a litre in Delhi and Rs 2.05 a litre in Mumbai. New rates, which are effective from Saturday, have raised pump prices to record levels across cities. Companies raised petrol rates nine time in last four months citing devaluation of the rupee and rising international crude oil prices.
Indian Oil Corp country’s biggest fuel retailer, said companies may consider a downward revision of the fuel rates in future because the rupee is strengthening and international crude oil rates are softening after the Syrian crisis was averted.”Should the recent trend of stabilization and appreciation of rupee-dollar exchange rate continue and international petrol prices also not move adversely, the beneficial effect of the same will be passed on to the consumers in the next fortnight, “Indian OilBSE 2.17% said in its statement. The fuel is priced at Rs 76.06 a litre in Delhi and Rs 83.62 in Mumbai.
Bureau Report
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