Petrol and diesel prices have risen to INR 64.53 and INR 51.28 respectively from April 4, 2016.
The spike in fuel prices, effective today, is the latest in a spate of rapid hikes. And this time it's up by INR 2.34 and INR 1.14. Why, you may ask, when the price of crude oil in the international market is down? Well, our Chief Minister Siddaramaiah says it's because when the central government had increased excise duty on petrol and diesel, the state held back on increasing prices then. But only last month, on March 17, 2016, petrol prices had gone up by INR 3.07 a litre and diesel by INR 1.90.
Will the trend continue? We certainly hope not.
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Information in this story has been included from Bangalore Mirror.