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Petrol, diesel still costlier

KT NEWS SERVICE. Dated: 6/27/2020 12:32:55 AM

NEW DELHI, Jun 26: The fuel prices were raised for the 20th day in a row on Friday even as petrol and diesel prices crossed Rs 80-mark in the national capital as also in many other cities, the daily hike attributed to the state-run oil marketing companies reviving their market margins. even as citizens and politicians stage protests against the sharp rise.
Petrol rates have again gone up by 21 paise while diesel price has increased by 17 paise after the latest revision. While there has been a gradual decline in the amount of daily rate increase, price of petrol and diesel have gone up cumulatively by Rs 8.87 and Rs 10.80 respectively since June 7.
After Friday's revision, petrol is retailing at Rs 80.13 per litre in Delhi and diesel still costlier at Rs 80.19 per litre.
In Mumbai, the cost of a litre of petrol is just 9 paise less than Rs 87 while diesel price has climbed to Rs 78.51. The petrol and diesel rates continue to climb in other cities like Kolkata, Chennai, Bengaluru as well.
Besides Mumbai, petrol prices are alarmingly high in Rajasthan’s Jaipur at Rs 86.94 per litre and some places in Madhya Pradesh, where rates are as high as Rs 89.32 per litre.
Over 12 top cities are now paying Rs 80 or more for a litre of petrol. Jaipur and New Delhi are the two cities which are paying in excess of Rs 80 for a litre of diesel.
The sharp increase in fuel prices in India comes at a time when the global oil markets are performing weakly due to tepid demand outlook and fears about another supply glut.