Petrol, diesel price hiked for seventh consecutive day; check revised rates here
il Marketing Companies (OMCs) have once again hiked the retail fuel prices for the seventh consecutive day on Wednesday.
Transport fuel prices witnessed a stiff hike earlier this week on the backdrop of a continuous increase in global crude oil prices following the implementation of output cuts by global oil producers from January 1. After the rise in the international market, state-run oil marketing companies in India increased petrol rates by 23 paise per litre and diesel by 29-31 paise across the four major metros cities on Sunday.
After witnessing a significant dip in retail rates across the country, petrol and diesel prices have moved up by more than Rs 2 per litre each in January alone. As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.
The final rate at the retail pump is calculated after adding central excise duty, dealers’ commission and value-added tax (VAT) to the base price. The decision to cut oil production will surely hamper India as it is one of the larger importers of crude oil in the world.
The country witnessed a relentless hike in petrol and diesel prices on October 4, 2018, following which prices had dropped significantly till December 2018. Though petrol and diesel prices have increased by Rs 2 in 2019, industry experts believe that these rates will go up in the days to come.
National Unity Day: A tribute to Sardar Patel | Master Stroke
What all changed after J&K officially bifurcated into 2 UTs? | Master Stroke
Israeli spyware Pegasus snooped on Indian Journalists through Whatsapp | Master Stroke
Maharashtra: Shiv Sena's Sanjay Raut Meets Sharad Pawar
Drill displays IED diffused with the help of a robot by NSG
Article 370 only gave separatism and terrorism to J&K: PM Modi in Kevadiya
Let us work towards making India $5 trillion economy: Modi To Trainee Civil Servant | Full Speech
Radio Stations in Jammu, Srinagar and Leh renamed
Jammu and Kashmir to witness 'Acche Din'? | Seedha Sawal
Expert advice on how to survive poor air quality in Delhi-NCR