For the second time within a fortnight,the oil compnies have
hiked petrol price by Rs.2 per litre.
The impact of this increase would vary from state-to-state based
local taxes
The reason for the price hike is attributed to depreciation of rupee.

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The last time the hike was made on June 01 by paise 75 stating
depreciation of rupee against US dollar.
If the oil compnies are allowed freely to increase the prices of
petrleum products,there will be no end to this phenomenon.
Despite intervention by the Reserve Bank of India,the government
is struggling to stabilise the value of rupee which has sunk to a
record low of almost Rs.60 against dollar.
It is certain that the hike in the prices of petrol would result in the
price rise of all the essential commodities.