New Delhi, June 20: State-run oil marketing companies (OMCs) hiked prices of petrol and diesel on Saturday. This is the 14th consecutive increase in prices of petrol and diesel in India. Petrol prices in Delhi have been hiked by Rs 0.51 per litre, while diesel prices have been increased by Rs 0.61 per litre. Following the fresh hike, petrol and diesel will now cost Rs 78.88  per litre and Rs 77.67 per litre respectively in the national capital. Sonia Gandhi Writes to PM Narendra Modi Demanding Rollback of Hike in Fuel Prices.

Prices of petrol and diesel have increased by Rs 5.88 per litre and Rs 6.50 per litre respectively in Delhi since June 9. Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT. In Mumbai, petrol price has been hiked to Rs 85.21 per litre, while diesel rates have been increased to Rs 75.53 a litre. Oil companies have been raising the fuel rates since June 7.

In Chennai, for a litre of petrol, you will have to shell out Rs 81.82, while diesel will cost Rs 74.77 per litre. Petrol price in Kolkata has been hiked to Rs 80.13 per litre, while diesel rates have been raised to Rs 72.53 a litre. Oil companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the COVID-19 pandemic. 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 a two-decade low. International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them. (With agency inputs)

(The above story first appeared on LatestLY on Jun 20, 2020 08:23 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website