Petrol, diesel prices hiked for the 13th straight day

Petrol and diesel prices were hiked for the 13th straight day on Thursday after an 82-day break from rate revision amidst the novel coronavirus pandemic. Petrol price was hiked by 56 paise per litre and diesel by 63 paise a litre, taking the cumulative increase in rates to Rs 7.11 and Rs 7.67 per litre respectively in less than two weeks.

In Delhi, petrol will cost 56 paise more per litre at Rs 78.37, while diesel will be costlier by 63 paise at Rs 77.06 per litre.

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In Bengaluru, petrol will now cost 58 paise more per litre, while diesel will be costlier by 60 paise more per litre. After today's hike, Bengalureans will have to shell out Rs 80.91 per litre for petrol and Rs 73.28 per litre for diesel.

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Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.

In 13 hikes, petrol price has gone up by Rs 7.11 per litre and diesel by Rs 7.67 a litre.

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 fall in international oil prices to two-decade low.

International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them.

(With inputs from PTI)