Petrol prices up by Rs. 3.14 a litre, effective midnight
Petrol prices have been hiked by Rs. 3.14 a litre effective midnight today. This after state-owned oil firms met the Petroleum Secretary in Mumbai today to make a case for a hike, after the rupee touched a two-year low against the US dollar. A fall in the value of rupee increases the cost of importing crude oil. The rupee fell to 48 per dollar today for the first time since September 2009.
