Petrol price hiked by Rs. 3.13, diesel by Rs. 2.71

Fuel prices in India have been hiked for the second time this month. Petrol is now costlier by Rs. 3.13 per litre, while the price of diesel has gone up by Rs. 2.71 per litre. This means that petrol will now cost Rs. 66.29 per litre (in Delhi) and diesel will cost Rs. 52.28 per litre.

Fuel prices are reviewed every fortnight in India. Prices are hiked or lowered according to international rates and the Rupee - US Dollar exchange rate. According to Indian Oil Corporation, the latest hike in prices is a result of international prices of petrol and diesel shooting up and the Rupee depreciating against the dollar.

Earlier this month, prices of petrol and diesel had been bumped up by Rs. 3.96 and Rs. 2.37 respectively.