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Petrol, Diesel Prices Hiked For Sixth Straight Day

Petrol, Diesel Prices Hiked For Sixth Straight Day

In Delhi, petrol and diesel rates were raised to Rs 74.57/litre and Rs 72.81/litre on Friday

Petrol and diesel prices were hiked in metros on Friday, marking the sixth 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 57 paise per litre and diesel by 59 paise per litre in Delhi. While the price of petrol was revised to Rs 74.57 per litre in the national capital from Rs 74 per litre the previous day, the diesel rate was increased to Rs 72.81 per litre from Rs 72.22 per litre, according to notifications from state-run Indian Oil Corporation, the country’s largest fuel retailer. (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 oil prices fell on renewed concerns about demand, as new cases of the coronavirus disease rise globally, and a large buildup of US crude inventories. Benchmark Brent crude futures – the global benchmark for crude oil – settled 7.62 per cent lower at $38.55 a barrel in US trading hours, before sliding further in Asia on Friday. 

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.

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