As the dollar is getting stronger in the economy, it is affecting the costs with higher import value. With the enhanced distribution prices and sales, the price hike is so obvious.
The fuel prices have increased so rapidly in recent times, and one more time with the dollar strengthening, the fuel cost has increased significantly.
Now, with 13 paise hike, the diesel prices have touched Rs 69.46 per liter in the capital region, adding an update to the May prices of diesel which was Rs 69.31 this year.
The diesel prices have increased to Rs 73.74 in Mumbai and it looks like it may rise to even stronger taking consideration of the Rupee value to not come back powerfully in the near future. The central government is not expected to bring the excise duties down soon with the aim to touch the fiscal deficit target in consideration.