Since May 29, prices were being reduced as international prices had started softening.
A senior KSRTC officer said, When fuel prices were hiked, we assumed they would drop but now, our fuel expenditure has risen. (Representational Image)
New Delhi: With international crude oil prices rising and rupee weakening, state-owned oil firms (OMCs) on Thursday hiked fuel prices for the first time in more than a month.
The OMCs raised petrol prices by 16 paisa a litre and diesel by 12 paisa per litre. It is for the first time after May 29, that fuel prices have been raised. The price of petrol in Delhi climbed to Rs 75.71 per litre from Rs 75.55 and diesel to Rs 67.50 a litre from Rs 67.38.
Since May 29, prices were being reduced as international prices had started softening.
Also since June 26, OMCs had kept fuel prices unchanged in anticipation of softening in global rates due to Opec’s decision to raise output by 1 million bpd.
( Source : Deccan Chronicle. )
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