Petrol and diesel prices are again increased by the oil companies. Indian Government had given the authority to the oil company group which, comprises, Indian oil Corporation, Bharath Petroleum, Hindustan Petroleum, and others to increase the fuel prices once a month. But these companies had already hiked the fuel price twice within last 15 days.
Petrol price has been increased by 75 paise per litre and diesel price is expected to be hiked by 50 paise. Raising fuel price will further affect the automotive industry, sales of the automobile will be affected considerably due to fuel price hike.
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