New Delhi: Petrol price in the Capital has again reached the Rs 75 mark Wednesday after touching the equal number Monday, which was the first time in more than a year after the oil companies raised the rates to make up the rising cost of production.
https://twitter.com/anilkpcc/status/1204643442896195586?s=20
— Mahendra Kumawat (@kumawat_max) December 11, 2019
You Anti- Nationalist people trending on Petrol price hike, if you all want cheaper Petrol rate go to Pakistan.
And, most Importantly Bhakts can enjoy the life in Saint country called "KAILAASA"
#PetrolPrice— Terminator (@Terminator699) December 11, 2019
The Petrol price in the national capital had Monday was hiked by 5 paise per litre and diesel by 10 paise per litre, which led to rise in the prices of petrol and diesel in the national capital to reach Rs 75 per litre and 66.04 per litre, respectively, according to daily price notification of state-owned oil firms.
The petrol and diesel prices were on the rise since November 9, except for one day. Collectively, the petrol prices in the last one month increased by Rs 2.30 per litre, while the diesel prices have been moderate in their movement, fluttering in between Rs 65-66 per litre range. However, the diesel prices had reached to Rs 67 after the drone attack on the Saudi Aramco, which is the leading oil supplier. The diesel prices, later moderated to hover in between Rs 65-66 per litre range since then.
#petrolprice @imsanjaimishra @ajaydevgn https://t.co/JlpsCga51S
— Dilip Rangwani (@ItsRDil) December 11, 2019
https://twitter.com/red_ar66/status/1204641792756371457?s=20
https://twitter.com/Shristi_Shroff/status/1204641297727803392?s=20
मध्यमवर्गीय निब्बा :#OnionPrices #petrolPrice pic.twitter.com/oIL9jjb70n
— Billie (@PentiumChar) December 11, 2019
This is what Illiteracy means #petrolPrice
Amit Shah : It's your problem not mine https://t.co/2fbYQhAX5h
— Ganesh (@VVLGaneshK) December 11, 2019
The prices of the oil rose in the aftermath of the drone attack on Saudi Arabia’s giant onshore fields in mid-September. The petrol prices since then have increased cumulatively by Rs 2.5 per litre in just two weeks, however, the petrol prices cooled off thereafter with prices coming down from Rs 74.61 per litre to Rs 72.60 for petrol in Delhi, before again reaching to a one-year high of Rs 75 per litre Monday.
However, rates have again been on the rise since November 9, partly because of the rupee-dollar exchange rate. Petrol and diesel prices are revised daily on the basis of changes in their benchmark international fuel prices and rupee-dollar exchange rate.
As of June 2017, Petrol prices in India are revised daily, and this is called the dynamic fuel price method. Petrol and diesel rates are revised at 06:00 a.m. every day. Before this, prices were revised every fortnight. Various factors impact the price of fuel. These include rupee to US dollar exchange rate, cost of crude oil, global cues, demand for fuel among others.