For the second straight day in a row, petrol prices were raised in the range of 14-15 paise per litre. After the latest price revision, petrol on Friday is priced at Rs 75.85 per litre in Delhi. In other metro cities of Mumbai, Kolkata and Chennai, petrol is being sold for Rs 83.24, Rs 78.53, and Rs 78.72, respectively. Similarly, diesel prices were also raised in the range of 16-18 paise today. In Delhi, diesel rose to Rs 67.66 per litre. In Mumbai, Kolkata and Chennai, diesel will be available to retail customers for Rs 71.79, RS 70.05 and Rs 71.42 per litre, respectively.
On Thursday, petrol prices were raised after a gap of 36 days in the range of 16-17 paise. and diesel in the range of 10-12 paise. In those 36 days, petrol prices came down by Rs 2.88 per litre and diesel prices by Rs 1.93 a litre.
State-run oil marketing companies Indian Oil (IOC), Bharat Petroleum (BPCL) and Hindustan Petroleum (HPCL) revise fuel prices on a daily basis with effect from 6 am. Petrol prices in Delhi are the lowest among all metro cities for lower sales tax or VAT (Value Added Tax).
The central government raised excise duty on petrol by Rs. 11.77 a litre and that on diesel by Rs. 13.47 a litre in nine instalments between November 2014 and January 2016 to shore up finances as global oil prices fell.
The last time when petrol, diesel prices were cut across cities was on June 26 when petrol was brought down in the range of 14 to 18 paise a litre, and diesel was slashed in the range of 10-12 paise. The fuel prices have not risen since May 29 when the prices surged to record highs, then, on the back of high crude oil prices.
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