On Wednesday, state-owned fuel retailers increased the price of petrol and diesel for the second day in a row. After an 18-day pause, petrol and diesel rates were raised by 15 paise and 18 paise per litre on Tuesday. However, on Wednesday, oil companies raised the price of a litre of petrol by 19 paise, whereas the price of a litre of diesel climbed by 21 paise. Petrol will now cost Rs 90.74 per litre in the national capital, following the recent price hike. The cost of diesel also increased to Rs 81.12 per litre. Similarly, a litre of petrol in Mumbai will now price Rs 97.12 and a litre of diesel will price Rs 88.19. Chennai residents will bill Rs 92.70 for a litre of petrol and Rs 86.09 for a litre of diesel, while Kolkata residents will spend Rs 90.92 for petrol and Rs 83.98 for diesel after the latest price update of today. In India, fuel costs have jumped for the second day in a row.
Before the first hike yesterday, oil companies had placed the fuel price revision on hold for around 18 days. State-owned fuel retailers including Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL), and Hindustan Petroleum Corporation Ltd (HPCL) adjust prices on a regular basis. The price of petrol and diesel differs from state to state due to the value-added tax, or VAT. Oil firms, who had resorted to an unexpected pause in price adjustment in recent months, had touched the pause after slashing rates slightly on April 15, when the price of petrol and diesel were lowered by 14 paise and 16 paise per litre, respectively.