Crude oil prices also rise to highest levels since February 2020 as Saudi Arabia announces a big voluntary production cut and on a steep fall in US crude inventories

As per Barclay's estimates, a $10/barrel change (increase) in global crude oil prices will imply a Rs 5.8/litre rise in retail fuel prices which would add 34 basis point to headline inflation over three-six months, assuming no change to petroleum taxes

This is the second consecutive day of price increase. Rates were hiked by 15 paise on Saturday. The price increase on Saturday came after a four-day hiatus in rate revision

Additional levies are expected to help Centre tide over economic loss due to coronavirus lockdown, which has squeezed its income from taxes amid higher spending on welfare programmes for poor and migrants

The former party president also said that prices of petrol and diesel are constantly increasing in the country when global crude oil prices are continuously falling

Diesel prices on Monday were hiked by 13 paise a litre and petrol prices by 5 paise per litre. Including Monday's hike, the prices have been hiked for twenty two times in a month, amounting to about Rs 9.17 for petrol and Rs 11.14 for diesel

Petrol prices in Delhi have been hiked to Rs 80.43/ litre from Rs 80.38/litre, while disel rates have been increased to Rs 80.53/litre from Rs 80.40/litre, according to price notification of state oil marketing companies

As per the latest data by the oil marketing companies, petrol costs Rs 80.38 per litre in Delhi, while diesel costs Rs 80.40/litre

Fuel prices, except for Wednesday, have risen consistently since June 7 after 82-day hiatus on fuel price revision due to the COVID-19 pandemic

Petrol prices have gone up by almost 12 per cent or Rs 8.5 per litre in the national capital Delhi since June 7. Prices of diesel have risen even faster at over 14 per cent or Rs 10.49 per litre in the same period

In Delhi, petrol saw 35 paise hike, while there was 60 paise per litre increase in diesel prices. Similarly, Mumbai also reported 34 paise hike in petrol, while diesel was hiked by 58 paise

Fuel prices today: In 14 hikes, the petrol prices have gone up by Rs 7.62 per litre and diesel prices ticked by Rs 8.38 per litre.

Reason petrol and diesel prices are rising is because government revenue from other sources has plummeted due to coronavirus lockdown in recent months

Petrol and diesel prices have been increased across the country. The fuel price hike takes the overall increase in the past 12 days to Rs 6.02 per litre for petrol and Rs 6.4 per litre for diesel. After a break of 82 days, oil marketing companies started increasing petrol and diesel prices from June 7. The rates were frozen soon after the government increased excise duty on petrol and diesel to shore up finances. But why are India's fuel prices soaring despite a fall in Brent crude oil prices? Watch the video for more.Also Read: Infra, solar sectors fear fallout of Indo-China standoff at Galwan

Petrol and diesel prices were increased by 55 paise and 69 paise in Delhi, taking the price per litre to Rs 77.28 and Rs 75.79, respectively; Mumbai saw rates going up by 53 paise and 57 paise to Rs 84.15 and Rs 74.32, respectively

She accused the government of earning an additional revenue of nearly Rs 2.6 lakh crore through these \"ill-advised\" hikes in excise duty and increase in prices of petrol and diesel

Fuel price hike: In the ninth hike, petrol price has gone up by Rs 5 per litre and diesel by Rs 5.23 a litre.

In eight hikes, petrol price has gone up by Rs 4.52 per litre and diesel by Rs 4.64 - a record increase in rates in any eight days since the daily price revision was introduced

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

Fuel price update: In Mumbai, petrol rates were increased by 52 paise litre and diesel by 55 paise a litre on Tuesday. In Mumbai, petrol prices stood at  Rs 80.01/litre, and diesel prices at Rs 69.92/litre