Petrol Price Hike in Chennai (2002-2012)

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India Petroleum Industry Latest News And Updates

Petrol cut by 31 paise a litre, diesel by 71 paise
July 01, 2015 10:49 AM
With a slight softening of international prices, Indian Oil Corp on Tuesday reduced the rates of transport fuels, cutting petrol by 31 paise a litre and of diesel by 71 paise in Delhi, effective from midnight, with corresponding decrease in other states. The prices were last revised on June 15, when petrol was hiked by 64 paise a litre and diesel cut by Rs.1.35. "Since last price change, there has been a decrease in international prices of both petrol and diesel. INR-USD exchange rate has appreciated during this period," the oil marketer said in a release in New Delhi. The price of petrol per litre from Wednesday will be Rs.66.62 in Delhi, Rs.74.09 in Kolkata, Rs.74.52 in Mumbai and Rs.69.84 in Chennai. Source: IANS

The price rise of petrol has been in the news for some time now and has constantly been putting a strain on the budget of the consumer. DMK president, M Karunanidhi has said that the price rise would cause further burden on the common man.

As is visible from the graph, the price of petrol has been rising over the years, with only a slight dip in price on May 2007, since then the price of fuel has been on a steady, uncontrolled rise. The price of petrol in June 2002 was Rs. 31.05 and as on November 4th 2011 stands at Rs. 72.73. This price rise of fuel would eventually lead to the rise on price of other essential commodities like food.

Last Updated on 05/25/2012