The price of petrol was increased by 47 paise a litre while that of diesel by 57 paise a litre in Delhi. Petrol and diesel will now cost Rs 76.73/litre and Rs 75.19/litre respectively in the national capital.
Petrol and diesel prices in Chandigarh will go up by nearly Rs 3 per liter with the Union Territory administration announcing a hike in VAT on fuel by five per cent on Wednesday. The tax hike will generate additional revenue of Rs 100 crore for the UT administration in 2020-21.
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In the international market, West Texas Intermediate (WTI) brent crude futures rose by 0.31 per cent to $60.94 a barrel. The Brent crude futures were at $60.75 a barrel.
Delhi, Kolkata, Mumbai and Chennai saw a reduction of 5 paise/litre in petrol prices.
On Friday, petrol prices in Delhi and Mumbai fell down by 12 paisa a litre; 11 paisa/litre in Kolkata and 13 paisa/litre in Chennai.
In Delhi, petrol was sold for Rs 69.93 per litre, down from Rs 69.99 a litre on Saturday.
Petrol and diesel prices started rising soon after the last phase of the general election concluded, and have increased by 70-80 paisa per litre in the past nine days.
Political parties, including Congress, have been demanding that the petrol and diesel be brought under the GST so that duties on them can come down that will reflect in lower prices at the pump.
Petrol prices at record high in India: Check how much it costs around the world
The other highest centres include Nanded where petrol sold at Rs 89.78 per litre and diesel at Rs 77.75 and Amravati at Rs 89.46 and at Rs 78.69 respectively.
In the national capital, diesel was sold at Rs 67.85 per litre on Friday, unchanged since Wednesday
Petrol and diesel prices were today hiked for the 15th day in a row, taking the cumulative increase this month to the highest in at least five years.
This is the 15th straight hike in a row after the dynamic pricing system resumed on May 14. Since then, petrol and diesel prices have risen by Rs 3.64 and Rs 3.24 respectively in Delhi.
In Delhi, the national capital, the petrol prices hit Rs 77.97 per litre while in Mumbai and Chennai, it was sold at Rs 85.78 and Rs 80.95 a litre, respectively on Saturday.
Consumers can expect some relief as the Brent crude oil prices fell to around $78 from $80 per barrel on Friday.
On Thursday, the petrol prices were Rs 80.12 per litre in Kolkata, Rs 85.29 per litre in Mumbai and Rs 80.42 per litre in Chennai, while it went up to Rs 77.47 in Delhi.
Amid the “crisis situation” created by rising fuel prices, BJP President Amit Shah on Tuesday said that the Centre taking the issue of oil prices seriously, and that it is working out on a formula to reduce the rates.
No sooner had Karnataka polled to elect a new state government, state-owned fuel retailers on Monday ended a 19-day hiatus in revising petrol and diesel prices and reverted to the practices of changing rates on a daily basis.
India has the highest retail prices of petrol and diesel among South Asian nations as taxes account for half of the pump rates.
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