New Delhi: Petrol price on Saturday was hiked by 59 paise per litre and diesel by 58 paise as oil companies for the seventh day in a row adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision. Also Read – Petrol, Diesel Prices Hiked For 6th Consecutive Day; Check Revised Rates in Top Cities Here
Petrol price in Delhi was hiked to Rs 75.16 per litre from Rs 74.57, while diesel rates were increased to Rs 73.39 a litre from Rs 72.81, according to a price notification of state oil marketing companies. Also Read – Petrol, Diesel Prices rise For Third Straight Day – Here’s How Much You Will Have to Pay From Today
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT. Also Read – Petrol, Diesel Prices go up by 60 Paisa Per Litre: Here’s What You Will Pay Now
This is the seventh daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.
In seven hikes, petrol price has gone up by Rs 3.9 per litre and diesel by Rs 4.
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.
Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of a decline in international oil prices.