Petrol prices up on 2nd straight day

Petrol prices were raised for the second day in a row on Friday.
Petrol prices up on 2nd straight day
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Petrol prices were raised for the second day in a row on Friday. After a hike of around 14 paise, petrol is now being sold at Rs 75.85 per litre in Delhi.

On Thursday, petrol prices were hiked for the first time in more than a month on the back of rising rates and weakening rupee.

The 16 paise a litre hike in petrol came after 8-day self-imposed hiatus in rate revisions by state-oil firms in anticipation of softening international rates due to OPEC decision to raise output by 1 million barrels per day.

State-owned oil firms, who had in mid-June last year dumped 15-year practice of revising rates on 1st and 16th of every month in favour of daily price revisions, had last changed prices on June 26 when petrol price was cut by 14 paise and diesel by 10 paise.

In the preceding month, or so rates had been cut in line with dropping international rates. Prices had hit an all-time high of Rs 78.43 a litre for petrol and Rs 69.31 per litre for diesel on May 30. 

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