Tuesday, March 9, 2021
Home BUSINESS Economy Petrol price hiked 16 paise per litre, diesel by 14 paise

Petrol price hiked 16 paise per litre, diesel by 14 paise

Diesel price in the national capital crossed the ₹80 per litre-mark for the first time ever on Thursday as oil companies raised prices for the 19th day, taking the cumulative rate to ₹10.63 a litre.

Petrol price, after a day’s hiatus, was hiked by 16 paise and the increase in less than three weeks now totals ₹8.66 per litre.

Petrol price in Delhi was hiked to ₹79.92 per litre from ₹79.76, while diesel rates were increased to ₹ 80.02 a litre from R₹79.88, according to a price notification of state oil marketing companies.

Diesel had for the first time become costlier than petrol in Delhi on Wednesday and has now crossed the Rs₹80 per litre-mark.

Rates differ from state to state depending on the incidence of value-added tax (VAT).

However, diesel is costlier than petrol only in the national capital where the state government had raised local sales tax or VAT on the fuel sharply last month. It costs less than petrol in other cities.

The 19th daily increase in rates since oil companies on June 7 restarted revising prices in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to fresh highs.

In 19 straight days, diesel price has gone up by ₹10.63 per litre. Petrol price has been hiked on 18 occasions since June 7 and now totals to ₹8.66 a litre.

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