Today marked the 16th consecutive day of oil prices in India. The price of petrol has risen by 33 paisa, whereas that of the diesel met with an increase of 55 paisa. Thus, in sixteen days, the prices of petrol and diesel have risen by a total of Rs. 8.36 and Rs. 8.91 respectively.
Experts are of the opinion that the price of petrol in the country would touch Rs. 90 in the coming days. India adopted dynamic fuel price method from June 2017 onwards. Since then, the oil prices in the country gets revised everyday and the price is determined by the Oil Marketing Companies. However, due to the nationwide lockdown, oil price change has come to a standstill. After a gap of more than 80 days, it was on June 7th, which the prices of the oil in the country met with an increase.
The revised price of oil in Kochi,
Petrol: 79.72
Diesel: 74.66
