Petrol price hiked by 19 paise, diesel by 28 paise

The Northlines - - BUSINESS -

Petrol price was hiked on Fri­day by 19 paise per litre and diesel by 28 paise, the second in­crease in rates in as many days on firm­ing in­put cost.

Petrol in Delhi now costs Rs 69.07 per litre--the high­est this month--up from Rs 68.88 per litre rate of Thurs­day, ac­cord­ing to the price no­ti­fi­ca­tion issued by state-owned oil firms.

A litre of diesel in Delhi is now priced at Rs 62.81 as com­pared to Rs 62.53 on Thurs­day.

In Mumbai, petrol now costs Rs 74.72 a litre and diesel is priced at Rs 65.73.

Rates vary from state to state de­pend­ing on the rate of lo­cal sales tax or VAT.

The in­crease--third this month--comes on the back of a 38 paise in­crease in petrol rates and 29 paise in case of diesel an­nounced on Thurs­day.

On Jan­uary 7, the petrol price was hiked by 21 paise and diesel by 8 paise. Rates were un­changed on Jan­uary 8 and 9.

In three hikes, petrol price has gone up by a to­tal of 78 paise a litre and diesel by 55 paise, ac­cord­ing to the price no­ti­fi­ca­tion.

Prior to these hikes, rates had cooled to a yearly low of Rs 68.29 for petrol and Rs 62.16 in case of diesel. This fol­lowed a de­cline in rates on al­most all days since Oc­to­ber 18, 2018. In all, the petrol price has fallen by Rs 14.54 per litre since Oc­to­ber 18, more than negat­ing all of the hikes that were wit­nessed in the twom­onth pe­riod be­gin­ning mid-au­gust. Diesel price has de­clined by Rs 13.53 per litre in two and a half months. Petrol price had touched a record high of Rs 84 per litre in Delhi and Rs 91.34 in Mumbai on Oc­to­ber 4. Diesel on that day had peaked to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.

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