Petrol and diesel prices were hiked in metros on Monday, marking the ninth straight day of increase since state-owned oil companies returned to the normal practice of daily reviews following a 12-week pause. With effect from 6 am, the prices of petrol was increased by 48 paise per litre and diesel by 59 paise per litre in Delhi. While the price of petrol was revised to Rs 76.26 per litre in the national capital from Rs 75.78 per litre the previous day, the diesel rate was increased to Rs 74.62 per litre from Rs 74.03 per litre, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer. In the nine-day period, the price of petrol has been increased by a cumulative Rs 5 per litre, and diesel by Rs 4.87 per litre. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
Here are the current petrol and diesel prices in metros (in rupees per litre):
|(Source: Indian Oil)|
International crude oil prices fell on Monday as a spike in new coronavirus cases in the US raised concerns over a second wave of the COVID-19 disease which would weigh on the pace of fuel demand recovery. Brent crude futures - the global benchmark for crude oil - were last seen trading down 1.7 per cent at $38.07 per barrel.
State-run oil marketing companies revise the prices of petrol and diesel from time to time, besides aviation turbine fuel (ATF) - or jet fuel - and liquefied petroleum gas (LPG). However, since March 16, the oil companies had kept petrol and diesel prices on hold, possibly due to the volatility in global oil markets.
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.