New Delhi: Petrol price on Friday was hiked by 57 paise per litre and diesel by 59 paise a litre as oil companies adjusted retail rates – the sixth straight day of increase in rates since oil firms ended an 82-day hiatus of rate revision. In six hikes, petrol price has gone up by Rs 3.31 per litre and diesel by Rs 3.42.
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, according to a 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.
This is the sixth consecutive daily increase in rates since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.
Petrol and diesel prices on Thursday were hiked by 60 paise per litre each – the fifth straight daily increase in rates since oil PSUs ended an 82-day hiatus in rate revision.
Petrol price on Wednesday was hiked by 40 paise per litre and diesel by 45 paise, the fourth straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision.
Petrol price on Tuesday was hiked by 54 paise per litre and diesel by 58 paise a litre – the third straight daily increase in rates after oil PSUs ended an 82-day hiatus in rate revision
Prices were raised by 60 paise per litre each on both petrol and diesel on Sunday as well as on Monday. In all, petrol price has gone up by Rs 1.74 per litre and diesel by Rs 1.78 a litre in three days.
Oil PSUs – Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) – had put daily price revisions on hold soon after the government on March 14, hiked excise duty on petrol and diesel by Rs 3 per litre each.
Oil companies did not pass on that excise duty hike, as well as the May 6 increase in tax on petrol by Rs 10 per litre and Rs 13 a litre hike on diesel by setting them off against the decline in retail prices that should have effected to reflect international oil rates falling to two-decade low.