Additionally, air travel expenses are expected to get affected as the Aviation Turbine Fuel (ATF) prices have dropped from 1.12 Lk/kL In Delhi to 1.07 Lk/kL.
Petrol price was hiked by 75 paise and diesel by 50 paise a litre as rise in global oil rates and fall in rupee value increased the cost of production. Post the increase, petrol now costs Rs 72.43 a litre in Delhi, up 91 paise from Rs 71.52.
In an interview to CNBC-TV18, chairman and managing director of BPCL RK Singh says that they are looking for a sustained stability in crude prices before moving on petrol.