Diesel,Petrol Price Hikes By Over Rs 8 Per Litre In 16 Days

Diesel, Petrol Price Hikes By Over Rs 8 Per Litre In 16 Days

New Delhi: On Sixteenth straight hike petrol and diesel prices were increased on Monday, since state-owned oil companies returned to the normal practice of daily reviews following a 12-week pause.

The previous day the price of petrol was revised to Rs 79.56 per liter in the national capital, the diesel rate was increased to Rs 78.85 per litre from Rs 78.27 per litre, as per the notification form the state-run Indian Oil Corporation, the country's largest fuel retailer.

Here are the latest petrol and diesel prices in metros (in rupees per litre):

City    Petrol    Diesel

Delhi    79.56    78.85

Kolkata    81.27    74.14

Mumbai    86.36    77.24

Chennai    82.87    76.30

(Source: Indian Oil)

The price of petrol has been increased in the 16 day period by a cumulative Rs 9.21 per litre in the national capital, and diesel by Rs 8.55 per litre.

Whereas on June 7, the oil marketing companies restarted the normal system of daily price reviews in line with costs following an 82-day hiatus. The price of petrol in Delhi had soared to an all-time high of Rs 84 per litre in October 2018.

The domestic petrol and diesel are determined broadly by the global oil prices and forex prices and vary from the state depending on value-added tax.

State-run Indian Oil, Hindustan Petroleum and Bharat Petroleum account for the majority of petrol and diesel outlets in the country.

Business News With Breaking News And Latest News From India and World follow dailyaddaa, like us on Facebook, Follow us on Twitter  and Subscribe us for Latest Videos