It seems like there is no stopping to petrol and diesel price rise in the country as Saturday marked the seventh straight hike. While the petrol prices were raised by 59 paise per litre, diesel hiked by 58 paise as oil companies adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision.
As per the latest price revision, petrol prices in Delhi was raised from Rs 74.57 to Rs 75.16 per litre. Similarly, diesel was rates were increased to Rs 73.39 a litre from Rs 72.81, according to a price notification of state oil marketing companies.
In other metropolitan cities of Mumbai, Chennai and Kolkata patrol prices was at Rs 82.10, Rs 78.99 and Rs 77.05 respectively.
Diesel in these major cities was being sold at Rs 72.03 in Mumbai, Rs 71.64 in Chennai and Rs 69.23 in Kolkata.
International crude oil prices changed a little on Friday with Brent Crude trading up 18 cents at $38.79 a barrel.
This is the seventh daily increase in rates in a row since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.
Since Sunday the petrol price has gone up by Rs 3.9 per litre and diesel by Rs 4.
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.
Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL), instead of passing on the excise duty hikes to customers, adjusted them against the fall in the retail rates that was warranted because of a decline in international oil prices.