Oil companies have raised petrol prices once again and have attributed the hike to weakening value of the Rupee. The price petrol has been raised by Rs 2 a litre while the price of diesel stays the same and will be in effect from June 16.
The government had partially deregulated the price of diesel in January in a bid to allow oil companies to minimise the loss they incur on every litre of diesel that they sell. The last hike took place on February 16 and saw the price of diesel go up by 45 paise and petrol by Rs 1.50. The last hike in the price of petrol was 75 paise and it took place on June 1.
