<p>Prices of fuels were hiked yet again on Thursday marking the 19th consecutive session of increases.</p>.<p>Diesel price crossed the Rs 80-mark in Delhi, and will now cost 14 paise more at Rs 80.02 a litre. Price of petrol price in the national capital at rose by 16 paise and will now cost Rs 79.92 per litre.</p>.<p>In Bengaluru, petrol is priced at Rs 82.52 a litre, 17 paise costlier, while diesel will cost 13 paise more at Rs 76.09 a litre.</p>.<p>Rates of petrol and diesel differ from state to state depending on the incidence of VAT.</p>.<p>The 19th daily increase in fuel rates since oil companies started revising prices from June 7 in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to fresh highs. In 19 days, diesel price has gone up by Rs 10.63 per litre while petrol price has risen by Rs 8.66 a litre.<br /><br />Diesel price for the first time crossed the rate of petrol in Delhi on Wednesday. </p>.<p>Prior to the current rally, the peak diesel rates had touched was on October 16, 2018 when prices had climbed to Rs 75.69 per litre in Delhi. The highest ever petrol price was on October 4, 2018 when rates soared to Rs 84 a litre in Delhi.</p>.<p>When rates had peaked in October 2018, the government had cut excise duty on petrol and dieselby Rs 1.50 per litre each. State-owned oil companies were asked to absorb another Rs 1 a litre to help cut retail rates by Rs 2.50 a litre.</p>.<p>The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.</p>.<p>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 fall in international oil prices to two decade low.</p>.<p>International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them. </p>
<p>Prices of fuels were hiked yet again on Thursday marking the 19th consecutive session of increases.</p>.<p>Diesel price crossed the Rs 80-mark in Delhi, and will now cost 14 paise more at Rs 80.02 a litre. Price of petrol price in the national capital at rose by 16 paise and will now cost Rs 79.92 per litre.</p>.<p>In Bengaluru, petrol is priced at Rs 82.52 a litre, 17 paise costlier, while diesel will cost 13 paise more at Rs 76.09 a litre.</p>.<p>Rates of petrol and diesel differ from state to state depending on the incidence of VAT.</p>.<p>The 19th daily increase in fuel rates since oil companies started revising prices from June 7 in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to fresh highs. In 19 days, diesel price has gone up by Rs 10.63 per litre while petrol price has risen by Rs 8.66 a litre.<br /><br />Diesel price for the first time crossed the rate of petrol in Delhi on Wednesday. </p>.<p>Prior to the current rally, the peak diesel rates had touched was on October 16, 2018 when prices had climbed to Rs 75.69 per litre in Delhi. The highest ever petrol price was on October 4, 2018 when rates soared to Rs 84 a litre in Delhi.</p>.<p>When rates had peaked in October 2018, the government had cut excise duty on petrol and dieselby Rs 1.50 per litre each. State-owned oil companies were asked to absorb another Rs 1 a litre to help cut retail rates by Rs 2.50 a litre.</p>.<p>The government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each and then again on May 5 by a record Rs 10 per litre in case of petrol and Rs 13 on diesel. The two hikes gave the government Rs 2 lakh crore in additional tax revenues.</p>.<p>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 fall in international oil prices to two decade low.</p>.<p>International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them. </p>
