Fuel prices hiked again, diesel continues to be costlier than petrol in Delhi

Srinagar: Petrol and diesel rates were hiked in metros on Friday, with diesel remaining costlier than petrol in Delhi for a third straight day.

With the latest hike, diesel prices have been increased for 20 days in a row, ever since state-owned oil companies returned to the normal practice of daily reviews following a 12-week hiatus.

In Delhi, the price of petrol was increased to Rs 80.13 per litre with effect from 6 am from Rs 79.92 per litre, and the rate of diesel was raised to Rs 80.19 per litre from Rs 80.02 per litre, according to notifications from state-run Indian Oil Corporation, the country’s largest fuel retailer.

However, the prices of petrol continued to be higher than diesel rates in the other metro cities of Kolkata, Mumbai and Chennai.

On June 7, state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum – which account for the majority of petrol and diesel outlets in the country – restarted the normal system of daily price reviews in line with costs following an 82-day hiatus. 

Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value added tax (VAT).

However, the prices of petrol continued to be higher than diesel rates in the other metro cities of Kolkata, Mumbai and Chennai.

On June 7, state-run oil marketing companies Indian Oil, Hindustan Petroleum and Bharat Petroleum restarted the normal system of daily price reviews in line with costs following an 82-day hiatus. 

Domestic petrol and diesel prices are determined broadly by crude oil and forex rates, and vary from state to state due to value added tax (VAT).