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Petrol price hiked by 16 paise, diesel by 14 paise per litre; check rates here

Petrol price hiked by 16 paise, diesel by 14 paise per litre; check rates here

Petrol price hiked by 16 paise, diesel by 14 paise per litre; check rates here
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By CNBCTV18.com Jun 25, 2020 9:05:26 AM IST (Published)

So far in 19 days, petrol price has gone up by Rs 8.66 per litre and diesel by Rs 10.39 a litre.

Petrol prices were hiked after a day of pause while diesel prices were raised for the nineteenth day in a row on Thursday. The prices have been increased by 16 and 14 paise per litre for petrol and diesel, respectively, in the national capital, according to data from Indian Oil Corporation.

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Petrol now stands at Rs 79.92 per litre while diesel at Rs 80.02 a litre in Delhi .
On Wednesday, the price of diesel overtook that of petrol for the first time, causing some concern about the impact of high diesel prices on inflation.
So far in 19 days, petrol price has gone up by Rs 8.66 per litre and diesel by Rs 10.39 a litre.
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
The oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning.
Globally, crude oil prices tumbled over 5 percent, or more than $2 a barrel on Wednesday, after US crude storage hit another record and coronavirus cases rebounded in countries like Germany and surged in heavily populated areas of the United States.
Brent crude settled at $40.31 a barrel, down $2.32, or 5.4 percent. On Tuesday, Brent hit its highest price since early March, just before the pandemic and Saudi-Russia price war roiled markets. US West Texas Intermediate (WTI) crude settled at $38.01 a barrel, losing $2.36, or 5.8 percent.
 
(With inputs from agencies)
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