Prices of petrol, diesel at 3-year highs in India

Petrol and Diesel prices are increasing daily in india. Peoples are just getting angry on the government.
Todays price in Mumbai is 79/liter. And surprisingly, there are no protests from any political parties. The simple reason is that the rise is gradual and it goes unnoticed.

Based on international oil rate and foreign exchange ratio in the preceding fortnight. Earlier prices were controlled by government now it is left to market forced to govern the prices.

Petrol price was hiked on August 31, 2016 by a steep Rs 3.38 per litre and diesel by Rs 2.67 a litre, reversing a two-month declining trend.

Petrol will cost Rs 63.47 a litre in Delhi from midnight, up from Rs 60.09 a litre, said Indian Oil Corp, the nation's largest fuel retailer. Similarly, a litre of diesel will cost Rs 52.94 a litre as against Rs 50.27.

The hike in fuel price, necessitated by a 13 per cent rise in international oil rates in the last fortnight, comes after four reductions.

While introducing the daily price revision, the government had said that the move is in keeping with the international practice. So, how do our petrol and diesel prices compare with our neighbouring countries? They are much higher. For instance, 1 September 2017, petrol in Delhi cost Rs 69.26 per litre whereas in Pakistan it cost just Rs 40.82 per litre, Sri Lanka Rs 49.80 per litre and Nepal Rs 61.88 per litre. In Bangladesh, it was at par with India at Rs 69.16 per litre. In case of diesel, the price in Delhi was Rs 57.13 per litre, Sri Lanka Rs 40.43 per litre, Nepal Rs 46.72, Pakistan Rs 47.15 and Bangladesh Rs 52.27.