Petrol, diesel to cost more as rupee falls

Petrol, diesel to cost more as rupee falls

MUMBAI: Be ready for another round of fuel price hike as oil firms are considering a proposal to increase prices of petrol for the seventh consecutive time and diesel for the eighth consecutive time. Petrol price is likely to cost Re 1 more per litre and diesel price is likely to go up by 50 paise a litre later this month as the global crude price increased to 108.5 per barrel and the Indian rupeeclosed higher at 61.71 on Friday, making imports costlier.

"Yes, we have started making losses on petrol due to falling Indian rupee and there is a case for revision. For diesel, the government has allowed an increase of 50 paise every month till we reach the market prices, but it is not helping as rupee has depreciated very strongly in the last few months and we need a lump sum revision to the tune of Rs 2-3 per litre in diesel ," said director of an oil firm. "There is a need to revise fuel prices. We have proposed to the ministry to allow a lump sum increase in diesel price and the proposal is in consideration ," said R S Butola, chairman , IndianOil.

In rupee terms, the crude price increased to Rs 6680.5 per barrel on August 15 as compared to 6588 per barrel on August 13, making a strong case for a fuel price hike. This was mainly due to a sharp price increase in dollar terms, besides rupee depreciation.

source: http://timesofindia.indiatimes.com/business

Comments

Google Pixel, Pixel XL pre-orders open: Here are the unique features

Google Pixel, Pixel XL pre-orders open: Here are the unique features Google Pixel and Pixel XL smartphones are available on Flipkart for pre-order. And it looks like Google is only bringing the ‘Quite Black’ colour variant to India for now, with ‘Very Silver’ and ‘Really Blue’ both not available in India yet. Google Pixel and Pixel XL with their premium pricing are set to compete with the likes of Apple iPhone 7, iPhone 7 Plus, Samsung Galaxy S7 and Galaxy S7 edge. Google Pixel and Pixel XL are first ‘Made by Google’ smartphones, and come with Google Assistant in-built, which is also the highlight of the devices. Honor 8 First Look Video Google Pixel and Pixel XL have a aluminum and glass design. Google Pixel is priced at Rs 57,000 for 32GB version in India. The 128GB variant of Google Pixel costs Rs 66,000. Google Pixel XL is available at Rs 67,000 for 32GB stor...

Make self control freak talk

Make self control freak talk!!!!! Make him talk http://www.selfcontrolfreak.com/word.html

Apple's iPhone 5s and 5c to be available in India from Nov 1

Apple's iPhone 5s and 5c to be available in India from Nov 1 Apple, the iconic maker of iPhones and iPads, today said the latest models of its smartphones will go on sale in India just before Diwali. The iPhone 5s and iPhone 5c will be available in more than a dozen countries on November 1, including India and Mexico, Apple said in a statement today, without revealing their prices. Apple has timed the release of iPhones in India before Diwali, which is on November 3. Apple products have previously hit the Indian markets in the last fortnight of November or the the first fortnight of December. The Iphone 5s, which the California-based firm calls the the most forward-thinking smartphone in the world, and the iPhone 5c, the most colourful iPhone yet, will hit retailers in 25 countries, including Italy, Russia and Spain, from October 25, it added. The iPhone 5s comes in gold, silver and space grey and the iPhone 5c comes in blue, green, pink, yellow and white. A contrac...

Techno Tube...

Search This Blog