Diesel at new high as prices hiked for 22nd time

TIL Desk/Business/New Delhi/ Diesel price on Monday scaled a new high after prices were hiked for the 22nd time in just over three weeks, taking the cumulative increase to Rs 11.14 per litre. Petrol price was increased by 5 paise per litre and diesel 13 paise a litre across the country, according to a price notification of state oil marketing companies. In Delhi, a litre of petrol now comes for Rs 80.43 per litre as compared to Rs 80.38 earlier. Diesel rates have been increased to Rs 80.53 per litre from Rs Rs 80.40.

Rates vary from state to state depending on the incidence of local sales tax or VAT. In Mumbai, petrol price went up from Rs 87.14 per litre to Rs 87.19, while diesel was hiked to Rs 78.83 from Rs 78.71.

While the diesel rates have been hiked for the 22nd time since June 7, petrol price has been raised on 21 occasions. There was no change in prices on Sunday. The cumulative increase since the oil companies started the cycle on June 7 now totals to Rs 9.17 for petrol and Rs 11.14 in diesel.