Petrol, diesel prices hiked by 80 paise; total increase now at Rs 5.60
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New Delhi: Petrol and diesel prices were today hiked by 80 paise a litre each, taking the total increase in rates in the last nine days to ₹ 5.60 per litre, PTI reported.
Petrol in Delhi will now cost ₹ 101.01 per litre as against ₹ 100.21 previously while diesel rates have gone up from ₹ 91.47 per litre to ₹ 92.27 according to a price notification of state fuel retailers.
In Mumbai, petrol and diesel prices per litre reached ₹ 115.88 and ₹ 100.10 respectively after prices were hiked by 84 paise and 85 paise.
This is the ninth increase in prices since the ending of a four-and-half-month long hiatus in rate revision on March 22.
On the first four occasions, prices were increased by 80 paise a litre - the steepest single-day rise since the daily price revision was introduced in June 2017.
On the following days, petrol price went up by 50 paise and 30 paise a litre while diesel rose by 55 paise and 35 paise a litre. Petrol price was on Tuesday hiked by 80 paise a litre and diesel by 70 paise.
Public sector OMCs including Bharat Petroleum Corporation Ltd (BPCL), Indian Oil Corporation Ltd (IOCL) and Hindustan Petroleum Corporation Ltd (HPCL) revise the fuel prices daily in line with benchmark international price and foreign exchange rates.
OMCs had earlier, neither raised nor reduced petrol and diesel rates for more than 100 days, while international oil prices were volatile.
Prices have increased across states but the magnitude of the revision in prices varies from state to state. Any changes in petrol and diesel prices are implemented with effect from 6 am every day. Retail petrol, diesel prices differ from state to state on account of local taxes like VAT or freight charges. Analysts had expected an increase in fuel rates as crude oil prices were hurting the government's kitty.