Ladies and gentlemen, some of you must be wondering as to why do you feel broke already at the start of the month, well, Diwali it was. And post the festive season, the petroleum authorities have come up with an update that is going to prick your pockets again. So, taking no pleasure in informing, here’s a bad news that will add to your Monday blues. From 6 November, 2016, the diesel and petrol prices have been bumped up by INR 0.86 per litre and INR 0.89 per litre respectively.
The updated prices arebe as follows-
Petrol
| Cities | Old Prices | New Prices |
| Delhi | 66.45 | 67.62 |
| Mumbai | 72.83 | 74.00 |
| Chennai | 65.96 | 67.13 |
| Kolkata | 69.08 | 70.24 |
Diesel
| Cities | Old Prices | New Prices |
| Delhi | 55.38 | 56.41 |
| Mumbai | 61.05 | 62.15 |
| Chennai | 56.95 | 58.02 |
| Kolkata | 57.64 | 58.67 |
The reasons of the price hike stated by Indian Oil Corp are as follows-
The movement of prices in the international oil market and INR-USD exchange rate shall continue to be monitored closely and developing trends of the market will be reflected in future price changes. The current level of international product prices of Petrol & Diesel and INR-USD exchange rate warrant decrease in price of Petrol and increase in price of Diesel, the impact of which is being passed on to the consumers with this price revision.