Petrol and diesel prices in the country were hiked again by oil marketing companies (OMCs) on Monday after a day’s gap. The prices have been increased for the 16th time since May 4.
On Monday, petrol price was hiked by a steep 29 paise per litre and diesel by 26 paise a litre, according to a price notification by state-owned fuel retailers.
After today’s hike, petrol prices in Delhi rose to Rs 94.23 per litre against Rs 93.94 on Sunday, while diesel price soared to Rs 85.15 per litre as compared to Rs 84.89 a litre on Sunday.
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
In Mumbai, the price of petrol and diesel stood at Rs 100.47 and Rs 92.45 per litre respectively.
The price of petrol and diesel in Chennai was Rs 95.76 and Rs 89.90 per litre respectively and Rs 94.25 and Rs 88.00 per litre in Kolkata.
This is the 16th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
In 16 increases, petrol price has risen by Rs 3.83 per litre and diesel by Rs 4.42.
