Petrol and diesel prices hiked for ninth day in a row
State-run oil marketing companies (OMCs) on Monday increased the price of petrol and diesel for the ninth consecutive day as they continued to adjust retail rates in line with costs after an 82-day break from rate revision amidst the coronavirus pandemic.
Petrol will now cost Rs 76.26 per litre after an increase by 48 paise and diesel 74.62 per litre after it was raised by 59 paise in Delhi. Petrol price was raised by 62 paise and diesel by 64 paise in the national capital on Sunday.
On Sunday, the price of petrol in Delhi was Rs 75.78 per litre after an increase by 62 paise and that of was diesel Rs 74.03 per litre after a raised of 64 paise
On Saturday, the prices of petrol were increased by 59 paise per litre and diesel by 58 paise per litre in Delhi as oil companies for the seventh day in a row adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision.
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
Petrolwill now cost Rs 83.17 per litre and diesel Rs 73.21 per litre in Mumbai. Chennai residents will have to pay Rs 79.96 for a litre ofpetroland Rs 72.69 per litre for diesel. In Kolkata, petrol has been priced at Rs 78.10 forpetroland Rs 70.33 for diesel for every litre.
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.
Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of a decline in international oil prices.
(With agency inputs)
