Hike in petrol price

As per the practice of revising rates every fortnight, petrol price revision is due and if oil ministry approves, the increased prices, most probably around `.1 a litre, will come into effect from 1st June, as the rupee hit a 10 month low making oil imports costlier. International oil prices have softened, the rupee has depreciated against the US currency to `. 56.38/39 per dollar.

This will be the first price hike in three months, which was last increased on 1st March 2013. Since then, petrol prices have been cut four times on falling global oil prices.