Petrol prices hiked again, but diesel gets cheaper

The price of petrol in India has been raised by 64 paise. This is the third hike since the start of May 2015. On May 1 and May 16, the price was increased by Rs. 3.96 and Rs. 3.13 respectively.

On the other hand, the price of diesel has been reduced by Rs. 1.35. Like petrol, diesel prices were hiked twice in the month of May - by Rs. 2.37 and Rs. 2.71 on May 1 and May 16 respectively.

The changes in the prices will mean that petrol will now cost Rs. 66.93 and diesel will cost Rs. 50.93 per litre in Delhi.

Fuel prices are reviewed every fortnight in India. Prices are hiked or lowered according to international rates and the Rupee - US Dollar exchange rate. However, this time, oil companies did not alter the prices on June 1.