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Petrol, diesel prices increased for 21st time again


Oil Marketing Companies increased the price of Petrol and Diesel for the 21st consecutive day on Saturday. The price of diesel ws hiked by 21 paise a litre while petrol has become dearer by 25 paise a litre. Since the price hike began, the cost of petrol has gone up by Rs 9.12 a litre while that of diesel is up by Rs 11.01 a litre. The price rise has resulted in petrol and diesel costing above Rs80 a litre in Delhi. Petrol prices are now at a 19-month high while diesel is at an all-time high in the country.

The hike in prices will reflect differently in different cities of the country depending on the incidence of value-added tax (VAT) imposed by the respective state governments. Oil Marketing Companies began an upward revision of oil prices in the country from June 7 onwards. The companies had not increased the retail price of fuel during the 82-day lockdown that was imposed in the country to counter the spread of COVID-19 in the state. The companies had suffered losses during the lockdown due to a fall in demand too.