Petrol and diesel price rise halted after three weeks

NEW DELHI: There was no hike in the prices of petrol and diesel in major metro cities on Sunday, marking a pause after 21 consecutive days of increase since stateowned oil companies returned to the normal practice of daily reviews following a 12-week hiatus. In Delhi, petrol was sold at ₹80.38/litre and the diesel cost was ₹80.40/litre on Sunday. The rates were unchanged following the increase in petrol prices by ₹0.25 per litre, and diesel by ₹0.21 per litre on June 27. Similarly, prices in Mumbai, Chennai and Kolkata were unchanged.

NEWDELHI: The continuous surge in rates of petrol and diesel prices for 21 consecutive days came to a halt on Sunday with no increase in prices.

In Delhi, petrol is selling at ₹80.38 per litre while diesel is a tad costlier at ₹80.40 per litre. The rates have not increased today following the hike in the price of petrol by ₹0.25 per litre, and diesel by ₹0.21 per litre on June 27.

Similarly, petrol prices in the other metros of Mumbai, Chennai and Kolkata were unchanged at ₹87.14, ₹83.59 and ₹82.05 per litre respectively.

Rates differ from state to state depending on the incidence of value-added tax (VAT).

Oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the Covid-19 pandemic.

These firms on June 7 restarted revising prices in line with costs. If the price of petroleum products and crude hold their positions in global markets, then petrol and diesel prices rise may stop for a longer period and we may even see marginal fall in prices.