With the depreciation of the rupee against the US dollar, petrol and diesel prices may go up over the week. The last time the prices were hiked was March 1st of this year. It is estimated that the price of petrol will go up by Re. 1.Since March, the prices have been cut thrice – by Rs. 2.40 on March 16th, Rs. 1.20 on April 16th and Rs. 3 on May 1st. ‘As per the practice of revising rates every fortnight, petrol price revision is due on Friday and if oil ministry approves the increased prices will come into effect from June 1’, said a source.
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