Petrol Prices are one of the major cost of ownership of a petrol vehicle over the lifespan of the automobile. Earlier this year, Govt. of India has deregulated the petrol prices, which means that the retailing price of petrol used for automobiles will be now decided by the oil refining companies in India like BPCL, HPCL etc. As and when the input costs of these oil refining companies rise or the price of the crude rises in the international market, the oil companies may hike the petrol prices. Effective today, 15 December 2010, the prices of Petrol have been increased in India by Rs. 2.95 per Litre. This will mean a direct burden on the consumers and the inflation index in the country. Hope this upside trend will slow down soon and we will get some relief from already high and ever rising cost of living in India.
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