Oil Marketing Companies (OMCs) have again hiked the prices of petrol and diesel making it the 17th such consecutive hike in a row. The price of petrol was hiked by 20 paise per litre while that of diesel by 55 paise. With this the cumulative increase now stands at Rs 8.5 and Rs 10.01 per litre for petrol and diesel respectively.
Petrol price in Delhi was hiked to Rs 79.76 per litre from Rs 79.56, while diesel rates were increased to Rs 79.40 a litre from Rs 78.55, according to a price notification of state oil marketing companies.
The rate rise is applicable across the country and actual price of petrol and diesel vary from state to state depending on the incidence of local sales tax or value added tax.
The oil companies first started revising the prices on June 7 after a hiatus due to the 82-day lockdown to avoid the spread of COVID-19. The period also saw demand for petrol and diesel almost coming to a stop. Thanks to the constant revision petrol prices are now at a two-year high.