June 25, 2024


Delighting finance buffs

Petrol, diesel price hiked for 11th straight day, check rates

Fuel prices in India were hiked for the 11th successive day as part of daily revision carried out by Oil Marketing Companies (OMCs).

Petrol price has been increased by 55 paise per litre while diesel price has gone up by 69 paise.

With the fresh upward revision, a litre of petrol in Delhi will now cost Rs 77.28 in comparison to Rs 76.73 yesterday. Diesel, meanwhile, will cost Rs 75.79 per litre in the national capital after a sharp rise.

In Mumbai, petrol price has crossed Rs 84 per litre with the fresh rise while diesel is now available for Rs 74.32 per litre.

Chennai, Patna and Hyderabad are three other places were prices have crossed Rs 80 for a litre of petrol. A lite of petrol is available for over Rs 79 per litre in Kolkata and Bengaluru.

Diesel prices are the highest in Jaipur (Rs 76.66 per litre), New Delhi (Rs 75.79 per litre), Mumbai (Rs 74.32 per litre) and Hyderabad (Rs 74.07 per litre).

The recent fuel hike may result in heightened pain for citizens who are already find it hard to cope with the economic situation due to coronavirus.

Petrol and diesel rates have been hiked by over Rs 6 since June 7 when OMCs started daily revision after a period of over 80 days.

OMCs are now raising the cost of fuel as they had not passed on the excise duty hike announced by the government earlier. Now, as global crude oil prices rebound, OMCs are trying to recover revenue lost during the lockdown.

The sharp spike in petrol and diesel price has also been criticised by the opposition Congress party.

Interim Congress president Sonia Gandhi on Tuesday penned a letter to Prime Minister Narendra Modi and urged him to cap increase petrol and diesel prices to help citizens during this difficult period.

It remains to be seen whether the government intervenes to limit fuel price increase, especially at a time when demand is at a multi-year low.

Also Read | Petrol price hiked by 62 paise per litre, diesel by 64 paise for 8th day in a row

Also Watch | Petrol, diesel prices hiked for 8th day in a row

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