Petrol prices have been hiked by Rs. 1.40. This is the second time in a fortnight that petrol prices have been hiked, since they went up by Rs. 1.50 on 16 February. The Indian Oil Corporation has justified this as being the result of petrol prices going up internationally, and a drop in the value of the rupee. The value of one USD, when measured in terms of INR, has gone up from Rs. 53.43 to Rs. 54.15.
The people are understandably bummed out at petrol prices literally going up by Rs. 3 in 15 days, and some of them have are even considering using bicycles to save money.
Meanwhile, the prices of diesel, cooking gas cyliders, and kerosene are also, in all probability, up for a hike, owing to transportation losses that will be faced by the dealers of these commodities due the the rise in petrol prices.