Petrol prices could be dropped by Rs 1 whereas Diesel prices could be increased by 40-50 paise from 15th march 2013

Frequent revisions in prices of Petrol and Diesel have become a frequent and a "to be ignored" news for the Indian automobile industry. With Diesel prices partially deregulated in India in last year, a price increase of 40-50 paise for Diesel is to be seen coming soon.

As per the latest information, Petrol price may be reduced by about Re 1 per litre while diesel price may be hiked by 40-50 paisa a litre from March 15th or 16th.  Last time, the cut in petrol price will follow two rounds of hike in rates since February. Petrol price was hiked by Rs 1.50 a litre on February 16 and then by Rs 1.40 per litre from March 2. Both the increases were excluding local VAT.

Stay tuned till the time we get our hands on official information from our Oil Minister.

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