Petrol and diesel prices increased for the 7th consecutive day on Saturday. According to today's price revision, diesel prices went up by 58 paise litre, whereas petrol became costlier by 59 paise per litre in major cities across the country. This is the seventh daily increase in rates in a row since the state-controlled oil marketing companies (OMCs) ended their 82-day hiatus in rate revision on June 7.
In the past seven days, the diesel price has spiked up by Rs 4 per litre whereas the petrol price ticked up by Rs 3.90 per litre. Petrol prices reached Rs 75.16 per litre in Delhi on Saturday, whereas diesel prices stood at Rs 73.39 per litre. In Mumbai, petrol prices have been hiked from Rs 82.10 per litre on Friday to Rs 83.10 litre on Saturday, whereas diesel prices ticked up to Rs 72.03 per litre on Saturday from Rs 71.48 per litre on Friday.
Petrol and diesel rates have been increased across the country, and vary from state to state, depending on the VAT and local taxes imposed by the state governments. The freeze in rates was imposed in mid-March soon after the government announced the hike in excise duty on petrol and diesel to gather additional funds.
Oil PSUs such as Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL), and Hindustan Petroleum Corporation Limited (HPCL) adjusted the hike in excise duty against the fall in retail rates warranted due to a drastic decline in international oil prices.
Petrol and diesel prices in four metro cities today:
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