Continuing their trend for the ninth straight day, petrol and diesel prices were hiked on Monday as the country’s key oil marketing companies (OMCs) adjusted the retail prices of the key automobile fuels in line with costs after ending the 82-day gap in the daily revision of fuel rates.
In Delhi, petrol price climbed 48 paise to Rs 76.26 per litre, while diesel inched up by 59 paise to Rs 74.62 a litre, data available with the Indian Oil Corporation (IOC) showed.
In the past nine days, petrol price has gone up by Rs 5 per litre and diesel by Rs 5.23 a litre in the national capital.
In Mumbai, a litre of petrol was quoted at Rs 83.17, while diesel was retailing at 73.21 per litre on Monday. Likewise in Kolkata, petrol was selling at 78.10, while diesel was at Rs 70.33 and in Chennai, petrol price was at Rs 79.96 and diesel at Rs 72.69, according to the data available on Fuel@IOC app.
The rates of petrol and diesel are revised across the country on a daily basis and they vary from state to state depending on the local sales tax or value-added tax (VAT).
The daily rate revision of fuel prices was suspended by the OMCs since mid of March after the central government hiked excise duty on petrol and diesel to mop up extra revenues from taxes. The base price of the fuels was unchanged for the next 82 days thereafter.
Instead of passing on the burden to the customers, the OMCs had adjusted the tax hikes against the fall in the retail rates which crashed due to a fall in international crude oil prices.
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