The oil prices in the country have met with a further increase today. The price of petrol has been hiked by 59 paisa, whereas that of diesel was hiked by 55 paisa. With this, the oil prices continued their rally for the seventh consecutive day. As the oil prices in the country managed some significant growth figures over the past week, petrol has marked a Rs. 3.91 hike during these 7 days. Diesel prices on the other hand, met with Rs. 3.81 increase over the past 7 days.
Authorities claimed that it was the increased demand for Crude oil internationally, which resulted in the hike of oil prices in the country. However, the Crud price depreciation at the international level during the past some months hasn’t reflected in India, as the central government decided to levy an additional excise tax on oil.
The revised price of oil in Kochi,
Petrol: 75.55
Diesel: 69.62
