Petrol And Diesel Prices Hiked For The Sixth Day In a Row

After the 83-day hiatus, during the lockdown, oil firms have started to increase rates of petrol as well as diesel in the country. Today the price of petrol has gone up by 57 paise per litre and diesel now is costlier by 59 paise. The oil firms have adjusted the retail rates for the sixth day in a row and hence the price of the both the fuels has gone up.

Also Read: Petrol, Diesel Prices Hiked After An 83-day Pause

According to a report in PTI, Petrol price in Delhi was hiked to Rs 74.57 per litre from Rs 74, while diesel rates were increased to Rs 72.81 a litre from Rs 72.22. This is in accordance with the price notification of state oil marketing companies.Rates have been increased across the country and vary in each state depending on the incidence of local sales tax or value added tax.

Also Read: Demand For Fuel To Rise In Unlock 1.0

In six hikes, petrol price has gone up by Rs 3.31 per litre and diesel by Rs 3.42. With Unlock 1.0 in place, oil companies hope that there will be a revival in the demand for petroleum products. The centre and some state governments announced relaxations in the lockdown starting last month, and the demand for fuel improved in May when compared to April. However, the sale of the fuel was still lower as compared to the corresponding month last year. As several markets resume operations from June 8 onwards, the demand for petroleum products is expected to increase.