Fuel prices hiked

Fuel: Following a hike in fuel prices in India, the cost of petrol has increased by Nu 3.67 a liter and diesel by Nu 2.35 a liter since yesterday night in Bhutan.

Petrol in Thimphu now costs Nu 63.37 a liter and Nu 61.42 a liter in Phuentsholing. A liter of diesel in Thimphu costs Nu 52.32 and Nu 50.64 in Phuentsholing.

This is the third hike after the last drop in prices since January this year. Petrol price was slashed by Nu 0.49 a liter and diesel by Nu 1.21 a liter on April 2. But there were two consecutive hikes in February and March.

State owned retailers in India, last revised the petrol and diesel price in February 16 by Rs 0.82 and Rs 0.61 a litre respectively. There has been further steep increase in international prices of both petrol and diesel.

According to Indian media reports, a slight depreciation in Rupee-Dollar exchange rate along with firming international rates warrant led to hike in retail price of petrol and diesel.

By Samdrup Tshering

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