Petrol, Diesel Prices Hiked For Sixth Consecutive Day, Rates Hit Two Year High

Domestic fuel rates on Monday were hiked for the sixth consecutive day by the state-owned marketing companies across the metro cities in India leading the prices to touch two-year high. As per the notification from Indian Oil Corporation, petrol and diesel rates were increased by 30 paise and 26 paise in the national capital. Due to firming international oil prices, there has been a continuous revision in fuel prices across the country. In the last sixteen days, the fuel rates have been hiked on fifteen occasions that came into effect from 6 am today.

Here are the prices of petrol and diesel per litre in the five metros on December 7, 2020:

Also Read: Petrol Price Crosses ₹ 90 Per Litre Mark In Mumbai, Diesel Above ₹ 80 Per Litre​

Diesel prices crossed Rs. 90 per litre-mark in Mumbai on Sunday

On Sunday, petrol and diesel prices shot past Rs. 90 per litre and Rs. 80 per litre in Mumbai. With a new revision in fuel rates, petrol retails at Rs. 90.34 per litre and Rs. 80.51 per litre. Buyers in the capital city will have to shell out Rs. 83.71 for one litre of petrol and will have to pay Rs. 73.87 per litre for diesel. The fuel prices have seen a cumulative hike of Rs. 2.65 per and Rs. 3.42 per litre, respectively. Petrol and diesel rates remained static since September 22 and October 2, respectively. The OMCs started revising rates of auto fuels from November 20 onwards.

Petrol price in Kolkata has been increased to Rs. 85.19 per litre, which was Rs. 84.90 per litre on Sunday. Similarly, the cost of diesel also increased by 26 paise from 77.18 to 77.44 rupees per litre. In Chennai, petrol and diesel retailed at Rs. 86.51 per litre and Rs. 79.21 per litre, respectively. The two auto fuels in Bengaluru cost Rs. 86.51 per litre and Rs. 78.31 per litre for petrol and diesel respectively.

Fuel prices vary from state to state depending on the incidence of local sales tax or VAT.

Also Read: Petrol, Diesel Rates Hiked For Fourth Consecutive Day On Saturday​

Oil marketing companies (OMCs) have been revising the retail rates of petroleum products since November 20, 2020. The 58-day hiatus in petrol price revision and 48-day status quo on diesel rates were preceded by no change in rates between June 30 and August 15 and an 85-day status quo between March 17 and June 6.