Petrol Price Hike in Kolkata (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 rising price of petrol has been in the news for some time now and has been a major cause of concern for people in India. The city of Kolkata has also been badly hit by this rise in price of fuel. West Bengal chief minister and Trinamool Cogress chief, Mamata Banerjee, is livid as a result of this rise in petrol price and wishes to withdraw from the Union Cabinet; especially since the price of petrol has been raised 11 times in the past 12 months.

As we can see from the graph, the price of petrol has been increasing, with a slight drop in January 2009. The price of petrol in June 2002 was Rs. 29.39 per liter and as of November 2011 stands at Rs. 73.15 per liter. The cause of concern regarding this price rise is that the rise in price of petrol will ultimately result in the rise of prices of diesel and LPG.

Last Updated on 05/25/2012