Gasoline, diesel prices rise for the third day in a row

The price of gasoline on Sunday was raised by 8 paise per liter and diesel by 19 paise, the third consecutive day of rate hikes as strengthening international oil tariffs broke a nearly two-month hiatus in price revision.

The gasoline price in Delhi was visited 81.46 per liter from 81.38, according to a price notification from oil marketing companies.

Diesel rates went up from 70.88 to 71.07 per liter.

State-owned fuel traders have begun to hike fuel prices starting Friday. In three days, the gasoline price has risen by 40 paise and diesel rates by 61 paise per liter.

Gasoline prices had been static since September 22, and diesel rates had not changed since October 2.

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Public sector oil marketing companies – Indian Oil Corporation, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd – review gasoline and diesel rates on a daily basis based on the international oil price and the exchange rate.

However, they have resorted to calibrating rates since the pandemic broke to avoid volatility in retail prices.

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The 58-day break in the gas price revision and the 48-day status quo for diesel rates were preceded by no change in rates between June 30 and August 15, and an 85-day status quo between March 17 and 6. June.

In Mumbai, the gas price was raised to 88.16 per liter, from 88.09, while diesel tariffs went up from 77.34 to 77.54.

Rates vary from state to state depending on the incidence of local sales tax or VAT.

This story was published from a wire desk feed with no changes to the text.

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