Petrol and diesel prices continued to rise as prices were hiked for 16th consecutive day. The price of petrol has been increased by 33 paise per litre while that of diesel by 58 paise a litre in Delhi.
According to the official website of Indian Oil Corporation, petrol now costs Rs 79.56 per litre in Delhi, Rs 86.36 per litre in Mumbai. Similarly, diesel costs Rs 78.85 a litre in Delhi, Rs 77.24 a litre in Mumbai. In Kolkata, a litre of petrol will cost Rs 81.27 per litre whereas diesel is now priced at Rs 74.14 per litre.
Post the continuous price hike of over two weeks, auto fuel prices rise may either stop or the quantum of the increase could fall in the coming week as oil companies have now priced the products closer to the international benchmark rates. There could be days when prices are not changed by the oil companies.
Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. These firms on June 7 restarted revising prices in line with costs. 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.
