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 ₹ 3.90 per litre for petrol and ₹ 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.
As per the notification from state-run Indian Oil Corporation, petrol now retails at ₹ 75.16 per litre in Delhi whereas diesel costs ₹ 73.39 per litre. Before the price hike, petrol and diesel retailed at ₹ 74.57 per litre and ₹ 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 ₹ 82.10 a litre and ₹ 72.03 a litre, respectively. Moreover, the petrol costs 78.99 per litre in Chennai, while diesel is retailed at ₹ 71.64 per litre. In Kolkata, the petrol and diesel rate is ₹ 77.05 per litre and ₹ 69.23 per litre respectively.
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.