Fuel prices today: Petrol now costs Rs 80.38 per litre, diesel Rs 80.40

After 21st straight daily hike, the price of petrol in Mumbai hit Rs 87.14 a litre, and diesel went up to Rs 78.71 a litre. In Kolkata, the prices were at Rs 82.05 and Rs 75.52 a litre, respectively

Oil marketing companies on Saturday hiked fuel prices for a 21st straight day. While petrol prices were hiked by 25 paise to Rs 80.38 a litre, diesel will now cost 80.40 per litre in the national capital.

The price of petrol has been increased by Rs 0.25 per litre while that of diesel by Rs 0.21 per litre. Rates differ from state to state, depending on value-added tax (VAT). The state had increased the VAT on diesel from 16.75 per cent to 30 per cent and on diesel from 27 per cent to 30 per cent. This hike in VAT resulted in rates going up by Rs 1.67 per litre for petrol and a record Rs 7.10 for diesel on a single day.

In Mumbai, the price of petrol touched Rs 87.14 a litre and diesel went up to Rs 78.71 a litre. In Kolkata, the prices were at Rs 82.05 and Rs 75.52 a litre, respectively.

Notably, oil marketing companies have been adjusting retail rates in line with costs after an 82-day break from rate revision amidst the Covid-19 pandemic. These firms on June 7 restarted revising prices in line with costs.

Before the nation entered the lockdown, the average price of petrol and diesel in Delhi was Rs 69.60 per litre and Rs 62.30 per litre respectively.

The Congress party had called the increase in the price of petrol and diesel 'unjust', 'thoughtless' and demanded from the Central government to roll back increase with immediate effect and pass on the benefit of low oil prices directly to the citizens of this country.

In an official statement, the Congress Working Committee (CWC) had said that no government should levy and impose such unacceptable strain on its people. Before the nation entered the lockdown, the average price of petrol and diesel in Delhi was Rs 69.60 per litre and Rs 62.30 per litre respectively.

In the month of June, the price of liquefied petroleum gas (LPG) had also increased by Rs 11.50 a cylinder in Delhi. For the current month, price of a 14.2 kg non-subsidised LPG cylinders was seen at Rs 593 in Delhi, Rs 590.50 in Mumbai, Rs 606.50 in Chennai, and Rs 616 in Kolkata.

LPG consumption recorded a growth of 12.8 per cent in May as compared to the same month in 2019, mainly because of the government scheme regarding free refills of cylinders for poor households.