Petrol, diesel prices hiked for 14th day in a row
State-run oil marketing companies (OMCs) on Saturday hiked the price of petrol and diesel for the 14th 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 and diesel will now cost Rs 78.88/litre after an increase by 0.51 paise and Rs 77.67/litre respectively after an increase by 0.61 paise in Delhi, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer.
The price of petrol and diesel has increased by Rs 5.88/litre and Rs 6.50/litre respectively since June 9, in the national capital.
Petrol, diesel rates in metro cities
After today's price revision, citizens in Kolkata will have to shell out Rs 80. 62 for a litre of petrol after a 49 paise rise over Friday's rate. A litre of diesel in the costs Rs 73.07 per litre, 54 paise more than yesterday’s price of Rs 72.53 a litre.
In Mumbai, the retail price of petrol price was hiked by 49 paise to Rs 85.70 per litre from Rs 85.21 a litre recorded on Friday. Diesel today in the city is retailing at Rs 76.11 per litre, 58 paise up from Friday's rate of Rs 75.53 a litre.
Similarly, in Chennai, the retail prices of petrol and diesel on Saturday are Rs 82.27 (45 paise more) a litre and Rs 75.29 (52 paise increase) a litre respectively. The rates of auto fuels vary from state to state because of different local taxes and VAT imposed by state governments.
In Noida, petrol was retailing at Rs 79.90 per litre while diesel was selling at Rs 70.33 a litre. In Bengaluru and Gurugram, while petrol today was retailing at Rs 81.44 and Rs 77.14 respectively, diesel in both cities was priced at Rs 73.86 and Rs 70.20 per litre respectively.
Crude Oil price
Crude oil prices on Friday rose by Rs 52 to Rs 3,008 per barrel as participants widened their positions on firm spot demand. Analysts said raising of bets by participants kept crude prices higher in futures trade. Globally, West Texas Intermediate crude oil rose 1.31 per cent to $39.35 per barrel, while Brent Crude was trading up 1.23 per cent at $42.02 per barrel in New York.
