In nine hikes, petrol price goes up by Rs 5 per litre, diesel by Rs 4.87

Petrol price on Monday was hiked by 48 paise per litre and diesel by 23 paise a litre as oil companies for the ninth day in a row adjusted retail rates in line with costs since ending an 82-day hiatus in rate revision.
 
Petrol price in Delhi was hiked to Rs 76.26 per litre from Rs 75.78, while diesel rates were increased to Rs 74.26 a litre from Rs 74.03, according to a price notification of state oil marketing companies.
 
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT. This is the ninth daily increase in rates in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

 
In nine hikes, petrol price has gone up by Rs 5 per litre and diesel by Rs 4.87 a litre.
 
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.
 
Facing an estimated Rs 26,000 crore revenue loss in the current fiscal due to Covid, the Gujarat government on Monday announced a Rs 2 per litre hike in petrol and diesel prices each. “We had no option but to hike the prices to compensate this revenue loss,” Deputy Chief Minister Nitin Patel said.