Petrol, Diesel Prices Increased For Fourteenth Day In A Row

Petrol and diesel prices were increased across metros on Saturday, marking the fourteenth straight day of hike. With effect from 6 am on June 20, the price of petrol was increased by 51 paise per litre in Delhi, and diesel by 61 paise per litre, compared to the previous day. While the price of petrol was revised to Rs 78.88 per litre in the national capital from Rs 78.37 per litre the previous day, the diesel rate was increased to Rs 77.67 per litre from Rs 77.06 per litre, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer.

Here are the latest petrol and diesel prices in metros:

Source: Indian Oil

In the 13-day period, the price of petrol has been increased by a cumulative Rs 7.62 per litre in the national capital, and diesel by Rs 8.28 per litre.

Domestic petrol and diesel are determined broadly by global oil prices and rupee-dollar exchange rates.

Oil prices rose on Friday but pulled back sharply from early highs on concerns that continued spread of the novel coronavirus could stall the United States' economic rebound. Crude benchmarks followed other assets lower after Boston Federal Reserve President Eric Rosengren said more fiscal and monetary support for the U.S. economy will likely be needed.

Brent crude rose 10 cents to $41.61 a barrel, after trading up to $42.92 a barrel and then briefly turning negative. U.S. crude was 29 cents higher at $39.15, after earlier touching $40.49.

The rupee ended marginally lower at 76.19 on Friday amid a mixed trend in Asian currencies, after moving in a range between 76.17 and 76.30 during the four-hour session.

Fuel retailing in the country is dominated by state refiners - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. The three own about 90 per cent of the retail fuel outlets in the country.