Fuel prices hiked for 6th straight day: Petrol costs over Rs 90 in Mumbai, check city-wise rates
India | December 07, 2020 14:11 ISTPetrol and diesel prices rose for the sixth day in a row on Monday as rates went up by 26-30 paise per litre.
Petrol and diesel prices rose for the sixth day in a row on Monday as rates went up by 26-30 paise per litre.
Petrol price on Friday was hiked by 17 paise per litre and diesel by 22 paise, as firming international oil prices broke a nearly two-month-long hiatus in price revision.
UK Prime Minister Boris Johnson on Wednesday unveiled plans for a new Green Industrial Revolution for the country, including a ban on the sale of new petrol and diesel cars by 2030 and new measures to become a world leader in carbon capture.
India's diesel sales fell 5 per cent in the first half of November when compared with the previous year, industry data showed on Monday, after rising for the first time in eight months in October.
State-owned Indian Oil Corp (IOC) on Friday said international oil prices have been range-bound in the last few weeks, warranting no revision in retail petrol and diesel rates.
In a bid to tackle air pollution in Delhi-NCR, a complete ban on use of diesel generators has been imposed including in Noida, Ghaziabad, Greater Noida, Faridabad, Gurugram. However, the ban will not be imposed on essential and emergency services. Though the intent to ban diesel power generators is to curb pollution, the move has also led a lot of people to suffer who are residing in societies of Indirapuram and Ghaziabad.
Petrol, diesel prices have remained steady for about half of the current month as stable global oil prices have ensured that oil marketing companies did not revise retail fuel prices.
In Delhi and Mumbai, price of the fuel increased by 14 paise to Rs 81.49 and Rs 88.16 per litre respectively on Sunday.
Petrol prices were revised on August 16 after a long pause. Since, then there has been a consistent increase in petrol rates.
In the national capital, petrol prices rose for third consecutive day on Tuesday by 17 paisa to Rs80.90 a litre. Pump prices of petrol rose by 14 paisa a litre on Sunday breaking a 47-day pause since June 29.
In the national capital, petrol prices rose for the second consecutive day by 16 paise to Rs 80.73 a litre.
The price hike comes at a time when crude oil prices have been rising and the Brent crude is trading around $45 per barrel.
India's fuel demand is beginning to flatline after showing signs of returning to life, as consumption dipped 11.7 per cent in July, official data showed.
Petrol and diesel prices may begin their rising trend all over again much to the discomfort of fuel consumers that have faced constant increasing prices since June 7.
This is the second consecutive day of the price increase. Rates were hiked by 15 paise on Saturday. The price increase on Saturday came after a four-day hiatus in rate revision.
Oil marketing companies on Saturday raised diesel prices by 15 paisa/litre as OMCs revised pump prices. This rise in price came after the prices were held steady for sometime. While the price of diesel was at Rs 81.79 per litre in the capital, petrol was steady at Rs 80.43 a litre. Petrol prices have remain unchanged since June 29.
Along with the national capital, diesel prices marginally increased in other metro cities as well but there the price of transportation fuel is still between Rs 6-8 per litre lower than petrol.
Unexpected rise in diesel prices for the past couple of weeks despite slower demand has made the transport fuel take the numero uno position in Delhi while substantially reducing the gap with petrol in other metros.
India's fuel sales in June reached 88 per cent of the pre-COVID-19 levels as easing of lockdown restrictions is reviving economic activities, the government said on Wednesday.
Fuel prices across the metros have gone for a halt after rising on 22 of the past 24 days as oil marketing companies (OMC) kept the pump prices of petrol and diesel unchanged
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