New Delhi : Oil companies have increased the price of petrol and diesel for the 11th consecutive day. On Wednesday, the price of petrol was increased by 55 paise and diesel by 60 paise per liter. Overall, petrol has increased by Rs 6.02 and diesel by Rs 6.40 per liter in the last 11 days. According to the notification issued by the oil marketing companies, the price of petrol in Delhi increased from Rs 76.73 to Rs 77.28 per liter. and the price of diesel increased from Rs 75.19 to Rs 75.79 per liter.
Oil companies reduce or increase the prices of petrol, diesel uniformly throughout the country, in line with the increase in the price of petroleum products in the international market. However, there is a difference in the prices of petrol-diesel due to different local sales tax or value added tax (VAT) in the states.
Since June 7, when oil companies have started daily revision in the prices of both fuels, prices have gone up continuously since then. Earlier, due to Coronavirus and lockdown, there was no change in price for 82 consecutive days. During this time the government also increased the excise duty on petrol and diesel. Public sector oil companies Indian Oil Corporation (IOC), Bharat Petroleum Corporation Limited (BPCL) and Hindustan Petroleum Corporation Limited (HPCL), put the burden of excise duty on the customers, with the fall in crude oil prices in the international market.