There was a price hike on Tuesday in the price of petrol by Rs. 2.58/litre and diesel by Rs. 2.26/litre. This is a second increase in the month of May. The cost of petrol is Rs. 65.60/litre and diesel is Rs. 53.93/litre after the increase. Prices were last hiked on May 17.
“The current level of international product prices of petrol and diesel and INR-USD exchanged rate warrant increase in price of petrol and diesel, the impact of which is being passed on to the consumers with this price revision,” said Indian Oil Corp (IOC).
The consumers especially the daily commuters are facing a financial budget crisis as fuel prices have been increased twice recently. As a solution, public can resort to using the public transport to keep their budgets in control.