Best Stock Advisory Company in Indore Petrol price up by Rs6 per liter since July, diesel by Rs3.67

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Petrol price has been hiked by Rs6 per liter since the beginning of July and is now priced at its highest rate in three years with rates being revised in small dosages daily. Diesel price has increased by Rs3.67 a liter and now costs Rs57.03 a liter in Delhi, the highest in four months, according to data from state-owned oil companies.

A liter of petrol costs Rs69.04 a liter in Delhi, the highest since second-half of August 2014 when it was priced at Rs70.33. State-owned oil companies in June dumped the 15-year old practice of revising rates on 1st and 16th of every month and instead adopted a dynamic daily price revision to instantaneously reflect changes in cost. Prices of petrol and diesel have been revised at 0600 hrs every day since 16 June.

Rates during the first fortnight dropped but have since 3 July been on the rise. Petrol price was at Rs65.48 a liter on 16 June in Delhi and it dropped to Rs 63.06 from 2 July. However, rates have since gone up every day except on four occasions when prices were cut by 2-9 paise per liter. Similarly, a liter of diesel was priced at Rs54.49 on June 16 and it dropped to Rs53.36 on 2 July, thanks to the softening international oil prices.