All the Indian oil providers named Bharat Petroleum, Indian Oil and Hindustan petroleum decided to revise diesel petrol prices every morning at 6:00 AM. The companies decided to revise the rates on a regular basis. Basically, the rate is depending upon the producers of the crude oil.
Apart from this, it is the bad news for the people. All the oil marketing companies hiked the prices of diesel and petrol from last three days regularly. People are fed up by these regular hikes in the oil. Some of the people reacting like every morning they have only one task that is, checking how much the rates of petrol and diesel hikes today.
According to the oil marketing companies the revised rates of petrol and diesel are stated under.
Now the rate of petrol in Delhi is Rs 76.95 per liter. The rate of petrol in Mumbai is Rs 84.33 per liter. New prices of petrol in Kolkata and Chennai is stood at Rs 79.61 per liter.
If we talk about prices of diesel, in Delhi revised prices of diesel is Rs 68.61 per liter. The rate of diesel in Mumbai is Rs 72.80 per liter. In Kolkata, the price of diesel is Rs 71.16. Price of diesel in Chennai is Rs. 72.43 per liter.
The rates are stated by IOC which is India’s largest fuel retailer.
All the revised rates which are stated in the above paragraph is already out on Saturday morning at 6:00 AM. All the oil providers of the nation decided to revise the rates of petrol and diesel on a daily basis.
The decision is taken by the oil companies after the approval of the Indian government to revise the rates of oil each morning. The Indian government approves the resolution in 2017 mid-June. Their primary motive to review rates on each morning is that it will reflect the changes to oil companies as well as people instantly.
The primary reason behind the hike in prices on petrol and diesel is the actions between Norway and Iraq that put an effect on the production of crude oil.
As expected in the near future the prices may get down due to the reopening of Libyan ports.