State fuel retailers have started Diwali after the end of the festival by throwing fuel bombs on the people. They have hiked the fuel prices both petrol and diesel this time.
Petrol now cost Rs 61.06 per litre in the Delhi which is a 36 paise rise from previous Rs 60.70 per litre. Diesel now cost Rs 46.80 per litre which is 87 paise rise from previous Rs 45.93 per litre. The difference between the petrol and diesel decreased from Rs 14.77 to Rs 14.26 which is a good sign for petrol customers.
Fuel retailers review the fuel prices every fortnight to align with the international prices and they also take into account the foreign exchange rates while calculating. According to their calculations they either increase or decrease the fuel prices.
Indian Oil corporation is the largest fuel retailer in the country. It released a statement which mentioned that according to current level of International product prices and foreign exchange rate they need to increase the price. Thats why they have passed this impact to the customers with this price revision.