Petrol Price Crosses Rs 80-Mark In Delhi For The First Time Since 2018, Diesel At New High  
Gas pumps for petrol and diesel stand at a Bharat Petroleum Corp. gas station in Haridwar, India. (Photographer: Prashanth Vishwanathan/Bloomberg)

Petrol Price Crosses Rs 80-Mark In Delhi For The First Time Since 2018, Diesel At New High  

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Petrol price in the national capital crossed Rs 80 per litre on Friday, for the first time in more than two years, while diesel rate is at an all-time high.

Oil companies hiked petrol price by 21 paise per litre and diesel by 17 paise a litre, according to a price notification of state oil marketing companies. Petrol price in Delhi was hiked to Rs 80.13 per litre from Rs 79.92 while diesel rates were increased to Rs 80.19 a litre from Rs 80.02.

Petrol had last crossed the Rs 80 mark in September 2018.

Rates have been increased across the country but the final retail selling price differs from state to state depending on the incidence of local sales tax or value added tax. In Mumbai, petrol is priced at Rs 86.91 per litre and diesel at Rs 78.51.

Also read: Trailing Oil Demand in India Shows Economy Not Fully Recovered

While diesel price has been hiked for the 20th straight day, petrol price has been raised on 19 occasions in less than three weeks. The cumulative increase since the oil companies started the hiking cycle on June 7 now totals Rs 8.87 for petrol and Rs 10.8 for diesel.

Diesel had for the first time become costlier than petrol in Delhi on Wednesday. However, it is costlier only in the national capital where the state government had raised VAT on the fuel sharply last month. Diesel costs less than petrol in other cities.

On June 7, oil companies resumped daily price revisions in line with costs after ending an 82-day hiatus, during which they adjusted steep excise duty hikes by the government against the fall in benchmark international oil rates.

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