Diesel And Petrol Prices Rise In Bhubaneswar On Monday, Check Details Here

Petrol prices per litre were raised to Rs 84.95 in New Delhi, Rs 86.39 in Kolkata, Rs 91.56 in Mumbai and Rs 87.72 in Chennai.

The price hike of Rs 25 paise per litre came after three days of unchanged rates.

Retail prices of both the fuels have surged to the highest ever in the National Capital Region (NCR) on Monday, after the latest hike. The price hike came as a result of resumption of daily price revisions by state-owned fuel retailers like Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) starting January 6 after almost a month-long hiatus.

State-owned fuel retailers - Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - had on January 6 resumed daily price revisions after almost a month-long hiatus.

Global oil prices have been rebounding from the lows of April after the worldwide coronavirus vaccine roll-out, causing an upward revision in retail rates in India in January. The previous highest ever rate recorded in Delhi was at Rs 84 per litre on October 4, 2018.

The last spurt in fuel prices has begun from November 20, after oil companies began a daily revision in fuel prices after a two-month gap. Alongside, state-owned fuel retailers cut prices by another Re 1 a litre, which they recouped later.

The AA is predicting that petrol will increase by 80 cents a litre and diesel by around 61 cents a litre. Value-Added Tax in Delhi totals to Rs 19.32 a litre on petrol and Rs 10.85 on diesel.

Meanwhile, diesel prices within the past month have increased at a slightly lower rate climbing from 119.0c on average in December to a current rate of 120.8c per litre. Since May 2020, petrol price has risen by Rs 15.29 per litre and diesel by Rs 12.84, price notifications of oil companies showed.