In seven hikes, petrol price has been raised by Rs 3.9 per litre and diesel by Rs 4. Price rise could continue for a few more days, as global product prices are firming up with a pick-up in demand
The increased prices of petroleum products have had a cascading effect on the prices of all items of daily use
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT
Instead of passing the benefit of lower crude prices to consumers, petrol and diesel prices were hiked for the seventh straight day on June 13, said Kapil Sibal
Rates have been increased across the country and vary in each state depending on the incidence of local sales tax or value-added tax
In the national capital, the retail price of both petrol and diesel had increased by 60 paise per litre to Rs 74 and Rs 72.22 per litre respectively on Thursday
Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
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This is the third daily increase in rates in a row. Oil companies had on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus
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Petrol price in Delhi hiked to Rs 72.46 per litre from Rs 71.86 on Sunday, while diesel rates increased to Rs 70.59 a litre from Rs 69.99
In its latest report, the International Energy Agency has said India's annual fuel consumption will decline 5.6 per cent in 2020
The price of Indian-made foreign liquor (IMFL) has been increased to Rs 20-Rs 200 per bottle, imported liquor by Rs 475 per litre and country-made liquor
The fuel consumption is estimated to decline 10-20 per cent during fiscal year 2020-21
Central govt seeks to repair its finances
Apart from the increase in central government taxes, several states and union territories, including Delhi, Haryana, Assam, Punjab, also have raised the state tax on fuel
The hike in duty has taken away gains from falling global crude oil prices
On Tuesday, the Delhi govt had also raised excise duty on liquor to shore up its revenues
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The consumption of petrol and diesel in the state has fallen sharply to about 1.2 million litres from 5.5 million litres