New Delhi: Petrol prices have again gone up today by 58 paise a litre but on the same hand diesel prices have been cut by 31 paise per litre in line with International standards.
Now petrol will cost you Rs 64.05 a litre from midnight tonight against Rs 63.47 and Diesel will cost Rs 52.63 a litre as compared to RS 52.94 a litre.
In this month this is the second time that the prices of petrol have gone up while in case of Diesel it wipes away.
Last time the price for both was changed on 1st September which was a deep cut in the pockets of consumer as the hike was Rs 3.38 a litre for petrol and for diesel it was RS 2.67 increment.
The prices of both Petrol and diesel are both controlled by the International oil market rate and the movement of prices in the International oil market should be monitored very closely because the developing trends of the market will be reflected in the future price changes.
One of the largest fuel reseller has told that the current level of International product prices of petrol and diesel and rupee- US dollar exchange rate warrant increase in selling price of petrol and decrease in selling price of diesel, the impact of which is being passed on to the consumers with revision of the price.
The prices of both fuels should come down because consumers cannot bear further increase in the prices as it will keep on adding burden on them and make it very difficult for them to drive their vehicles.