Economy

Petrol price hiked 16 paise per litre

PTI New Delhi | Updated on June 25, 2020 Published on June 25, 2020

Petro products Cash cow for the government   -  S MAHINSHA

This is the 19th cosecutive price hike

The price of petrol, after a day’s hiatus, has been hiked by 16 paise. It currently costs Rs 8.66 per litre.

Diesel price in the national capital crossed the Rs 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 Rs 10.63 a litre.

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

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

The 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 Rs 10.63 per litre. Petrol price has been hiked on 18 occasions since June 7 and now totals to Rs 8.66 a litre.

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Published on June 25, 2020
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