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Petrol and diesel price raised for 12th straight day

Petrol price hike by 53 paise/liter, diesel by 64 paise

New Delhi, June 18 | Petrol price hiked by 53 paise per liter and diesel by 64 paise a liter, the 12th straight day of increase in rates that now totals to Rs 6.55 for petrol and Rs 7.04 for diesel.

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 12th 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 rate revision.

In 12 hikes, the petrol price has gone up by Rs 6.55 per liter and diesel by Rs 7.04 a liter.

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.

Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) instead of passing on the excise duty hikes to customers adjusted them against the fall in the retail rates that was warranted because of fall in international oil prices to a two-decade low.

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