Geo-Economics

Petrol price up 25 paise, diesel 21 paise

The Hindu – Economy
PTI
2020-06-27 05:27:53

Petrol price on Saturday was hiked by 25 paise per litre and diesel by 21 paise, taking the cumulative increase in rates in three weeks to ₹9.12 and ₹ 11.01 respectively.

Petrol price in Delhi was hiked to ₹80.38 per litre from ₹80.13, while diesel rates were increased to ₹80.40 a litre from ₹ 80.19, according to a price notification of state oil marketing companies.

Read Editorial: Fleecing fuel users

Rates have been increased across the country but the final retail selling price differs from state to state depending on the incidence of local sales tax or VAT.

In Mumbai, petrol price went up from ₹86.91 per litre to ₹87.14, while diesel rate was hiked to ₹78.71 from ₹78.51.

While diesel rates have been hiked for the 21st straight day, petrol price has been raised on 20 occasions in three weeks.

The cumulative increase since the oil companies started the cycle on June 7 now totals to ₹9.12 for petrol and ₹11.01 for diesel.

On June 7, oil companies had restarted revising prices in line with costs after ending an 82-day hiatus during which they adjusted steep excise duty hikes by the government against the fall in benchmark international oil rates.

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