Petrol price breaches Rs. 70-mark, diesel crosses Rs. 64
What's the story
Petrol price breached the Rs. 70 a liter-mark and diesel crossed Rs. 64-mark today, after rates were hiked for the fifth consecutive day on rising input cost. Petrol price was raised by 38 paise per liter and diesel by 49 paise a liter, according to price notification issued by state-owned oil firms. In Delhi, petrol now costs Rs 70.13 a liter.
Information
This is the fifth consecutive day of increase in rates
Meanwhile, diesel is priced at Rs. 64.18 in the national capital. This is the fifth consecutive day of increase in rates and sixth hike this month. Rates yesterday were increased by 49 paise per liter in case of petrol and 59 paise for diesel.
Graph
Petrol, diesel prices have been on the rise since January-7
In all, prices have gone up by Rs. 1.84 a liter for petrol, and by Rs. 2.02 for diesel in the new year. In Mumbai, petrol costs Rs. 75.77 a liter and diesel is priced at Rs. 67.18. Rates vary from state to state, depending on the rate of local sales tax or value added tax (VAT). Fuel prices have been rising since January-7.
Fall in rates
Given everything, petrol, diesel prices have fallen in 2.5 months
Prior to that, rates had cooled to a year's low of Rs. 68.29 for petrol and Rs. 62.16 in case of diesel. This followed a decline in rates on almost all days since last mid-October. In all, the petrol price has fallen by Rs. 14.54 per liter since October 18, 2018, while diesel price declined by Rs. 13.53 per liter in 2.5 months.