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Petrol and diesel prices paused on Monday after the sixth straight day of hikes for the 21st day.
For the sixth straight day on December 7, fuel prices were hiked by oil marketing companies, leading rates to touch a 2- yrear high. Petrol prices in Delhi were increased by 30 paise per litre and diesel prices by 26 paise, the sixth straight day of rate increases on Monday due to the steady international oil prices.
According to Indian Oil Corporation notifications, petrol prices in Delhi are at Rs 83.71 per litre while diesel prices are Rs 73.87 per litre.
Look at the price difference between diesel and petrol in four metro cities on the 26th of December.
City Petrol Diesel
Delhi 83.71 73.87
Mumbai 90.34 80.51
Chennai 86.51 79.21
Kolkata 85.19 77.24
On November 20 (Friday), the prices of petrol and diesel, which remained unchanged for 48 days, saw a revision of the tariff as state-owned oil marketing companies raised fuel prices. Rates vary according to the incidence of VAT from state to state. Taxes account for almost two-thirds of the retail selling price.
Diesel prices were first reduced in September since mid-March when Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL), and Hindustan Petroleum Corp Ltd (HPCL) froze rates for 82 days in order to adjust a record increase in excise duty on car fuels against the falling cost of the benchmark.
The diesel rate rose by Rs 12.55 per litre between June 7 and July 25, when oil companies resumed the cost-compliant revision of prices. Since 25 July, diesel prices in the country have remained unchanged, with the exception of Delhi, where the VAT reduction has reduced the rate by Rs 8,38 per litre. The price of oil rose by Rs 9.17 per litre between June 7th and June 29th, before reaching a pause.
