Petrol and diesel prices were hiked for the 12th straight day on Thursday after an 82-day break from rate revision amidst the novel coronavirus pandemic. Petrol price on Thursday was hiked by 53 paise per litre and diesel by 64 paise a litre.
Petrol will now cost Rs 77.81 per litre (increase by 53 paise) and diesel Rs 76.43 per litre (increase by 64 paise), respectively, in Delhi today.
In Bengaluru, petrol prices breached the Rs 80 per litre mark. It will now be costlier by 54 paise more per litre at Rs 80.33 per litre, while diesel will cost 61 paise more per litre at Rs 72.68 per litre.
Yesterday, Congress President Sonia Gandhi shot a letter to Prime Minister Narendra Modi demanding an immediate rollback in the regular increase in the prices of petrol and diesel.
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
This is the 12th daily increase in rates in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus in rate revision.
In 12 hikes, petrol price has gone up by Rs 6.55 per litre and diesel by Rs 7.04 a litre.
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 two decade low.
International oil prices have since rebounded and oil firms are now adjusting retail rates in line with them.