Petrol, Diesel Prices Hiked For The Seventh Consecutive Day

Petrol and diesel prices have gone up for the seventh day in a row. With the new prices coming into effect, petrol and diesel have became dearer by 59 paise and 58 paise per litre respectively. The fuel prices have risen throughout the week witnessing a hike of Rs. 3.90 per litre for petrol and Rs. 4 per litre for diesel, since Sunday, June 7. Fuel prices have risen by around 60 paise per day, except Tuesday when the hike was marginally lower than 40 paisa per litre.

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

Oil firms have hiked rates of petrol and diesel in the country for the seventh day in a row

As per the notification from state-run Indian Oil Corporation, petrol now retails at Rs. 75.16 per litre in Delhi whereas diesel costs Rs. 73.39 per litre. Before the price hike, petrol and diesel retailed at Rs. 74.57 per litre and Rs. 72.81 per litre in the national capital. The price f petrol and diesel are subject to vary in other cities, depending on the tax structure on the products.

The petrol and diesel prices in Mumbai stand at Rs. 82.10 a litre and Rs. 72.03 a litre, respectively. Moreover, the petrol costs 78.99 per litre in Chennai, while diesel is retailed at Rs. 71.64 per litre. In Kolkata, the petrol and diesel rate is Rs. 77.05 per litre and Rs. 69.23 per litre respectively.

On Friday, the petrol and diesel were retailed at Rs. 74.57 per litre and Rs. 72.81 per litre

According to sources in the oil marketing companies, the price hike of fuels is likely to be seen for the next few days as global product prices too are going up, owing to the opening up of the economies across the globe post the lockdown. Notably, the global crude prices have doubled from April which is now close to $40 per barrel.

The hike in retail prices has been made as per the dynamic pricing structure for daily revision of fuel prices, which the oil marketing companies have resumed after a long pause of 83-days during the lockdown period.