Petrol, diesel prices go up for 13th day in a row

Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from daily rate revision amidst the coronavirus pandemic. These firms restarted revising prices on June 7.

State-run oil marketing companies (OMCs) have increased the price of petrol and diesel for the 13th straight day on Friday in rates that now have gone up by Rs 6.51 for and Rs 7.07.

A petrol pump employee wearing a face mask while attending to a customer in Trinagar, New Delhi. (Sanchit Khanna/HT File Photo)

Petrol price stands at Rs 78.37 for a litre after an increase by 55 paise and the diesel price at 77.06 after an increase by 63 paise in Delhi, according to a price notification of state oil marketing companies.

Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from daily rate revision amidst the coronavirus pandemic. These firms restarted revising prices on June 7.

Before that, fuel prices were changed on March 16 but some state governments raised value-added tax (VAT) or cess to shore up their revenues, which went down during the coronavirus-induced lockdown.

The Centre levies specific excise duty on the two fuels. On March 14, it mopped up additional Rs 3 per litre from petrol and diesel each to fund its Covid-19 relief measures raising total central levies on petrol are to Rs 22.98 per litre on petrol and Rs 18.83 per litre.

Despite hikes in the central levies, pump prices of petrol and diesel were not raised due to a sharp decline in international oil prices.