Oil and Gas Prices Continue to Soar While Common Man Feels Pinched

摘要

On Sunday, July 14th, the prices of petrol were revised upwards once again. This was the fourth increase in the price of the fuel since June thanks to depreciation of the rupee against dollar. Leading retailer IOC, said, the hike was necessary due to "The combined impact of deteriorating exchange rate and increasing international oil prices". Meanwhile, speculations are rife about the possible fallout of the gas price hike on major oil companies.