No change in fuel prices on Tuesday; petrol at Rs 80.43, diesel Rs 80.53 in Delhi
BusinessToday.In June 30, 2020
There was no hike in the prices of petrol and diesel on Tuesday. In the national capital, the price of petrol remained unchanged at Rs 80.43 per litre and diesel was untouched at Rs 80.53 per litre, according to notifications from state-run Indian Oil Corporation.
Petrol prices were increased by 5 paise per litre and diesel by 13 paise per litre on Monday in Delhi. The prices in the other metros of Mumbai, Chennai, Bengaluru, and Kolkata remained unchanged as well. Fuel prices were kept unchanged on Sunday too.
So far, diesel rates have been hiked for 22 days, petrol price has been raised on 21 occasions since June 7. The cumulative increase since the oil companies started the cycle on June 7 now totals to Rs 9.17 for petrol and Rs 11.14 for diesel. In a historic development, the price of diesel surged above that of petrol in the national capital during this period.
Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value-added tax (VAT).
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Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 82 days during the lockdown.