Petrol-Diesel Records Most Expensive Hike of the Year, Know New Rates

Last updated Jun 17, 2020

New Delhi : The country’s state-run oil marketing company (HPCL, BPCL, IOC) has raised the prices of Petrol-Diesel Price Today for the 10th consecutive day. Petrol price in the capital Delhi increased to Rs 76.73 per liter on Tuesday, which was Rs 76.26 per liter on Monday. At the same time, the price of diesel reached Rs 75.19 per liter, while on Monday it was 74.62 rupees per liter.

Petrol price hiked by 47 paise/litre, diesel by record 93 paise;rates go up cumulative by Rs 5.47 and Rs 5.8 respectively in 10 days
— Press Trust of India (@PTI_News) June 16, 2020

According to the rates on the website of the state-run oil company Indian Oil (IOC), on Tuesday, the price of one liter petrol (Petrol Price Today) in the capital Delhi increased by 47 paise, while the price of one liter diesel increased by 93 paise per liter. In 10 days, petrol has become costlier by Rs 5.47 per liter and diesel by Rs 5.80 per liter. The price of petrol in the country has reached the upper level of 21 months.

Petrol Diesel Price on 16th June 2020 –

Delhi
76.73 rupees per liter of petrol
75.19 rupees per liter of diesel

Mumbai
Price of one liter petrol Rs 83.62
One liter diesel price Rs 7.75

Kolkata
One liter petrol price Rs 78.55
70.84 rupees per liter of diesel

Chennai
Price of one liter petrol Rs 80.37
73.17 rupees per liter of diesel

Oil companies started increasing the prices of petrol and diesel from June 7. In the next 10 days till now, petrol prices have been increased by Rs 5.47, while diesel prices have been increased by Rs 5.80 per liter. However, it is expected that with the increase in the next two weeks, relief of 60 paise per liter can also be given. According to the Oil Ministry, the total consumption of oil in May was 1465 million tonnes, which is 47.4 percent higher than in April.

Why petrol-diesel is getting expensive
Market experts say that in March, the government increased the excise duty on petrol and diesel by Rs 3 per liter. Even after this, the oil companies did not raise the tax on prices. That is why it is increasing the price of petrol daily.

Apart from this, the demand for petrol and diesel has suddenly increased after the relaxation of the lockdown. The concern of oil companies has also increased due to the fall in the rupee. The oil companies suffered losses amid lockdown. Now they would like to make up for it.