New Delhi | Jagran Business Desk: The petrol and diesel prices on Friday were hiked by 57 paise and 59 paise respectively. With this, the cost of petrol and diesel have increased by Rs 3.31 and Rs 3.42 respectively in the last six days.  

This is the sixth daily increase in rates in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus.

The rate of petrol and diesel across the country vary in each state depending on the incidence of local sales tax or value added tax.

Here's how much one litre of petrol will cost in your city now:

City Today Price Yesterday's Price
New Delhi Rs 74.57 Rs 74.00
Kolkata Rs 76.48 Rs 75.94
Mumbai Rs 81.53 Rs 80.98
Chennai Rs 78.54 Rs 77.96
Gurgaon Rs 73.58 Rs 73.20
Noida Rs 76.57 Rs 76.03
Bangalore Rs 76.98 Rs 76.39
Bhubaneswar Rs 75.07 Rs 74.74
Chandigarh Rs 71.79 Rs 71.25
Hyderabad Rs 77.41 Rs 76.82
Jaipur Rs 81.22 Rs 80.74
Lucknow Rs 76.49 Rs 76.05
Patna Rs 78.66 Rs 78.44
Trivandrum Rs 76.09 Rs 75.93

Here's how much one litre of diesel will cost in your city now:

City Today Price Yesterday's Price
New Delhi Rs 72.81 Rs 72.22
Kolkata Rs 68.70 Rs 68.17
Mumbai Rs 71.48 Rs 70.92
Chennai Rs 71.21 Rs 70.64
Gurgaon Rs 65.63 Rs 65.24
Noida Rs 66.58 Rs 66.03
Bangalore Rs 69.22 Rs 68.66
Bhubaneswar Rs 71.10 Rs 70.76
Chandigarh Rs 65.08 Rs 64.56
Hyderabad Rs 71.16 Rs 70.59
Jaipur Rs 73.61 Rs 73.14
Lucknow Rs 66.51 Rs 66.06
Patna Rs 71.30 Rs 71.08
Trivandrum Rs 70.22 Rs 70.04

The hike in the petrol and diesel price comes in a row since oil companies on June 7 restarted revising prices in line with costs, after ending an 82-day hiatus. Sources, quoted by news agency IANS, have said that the rise in fuel price will likely continue for another week or 10 days as global crude prices are firming up with a pick up in demand following opening up of economies across the globe post COVID-19 related lockdown.

Even global crude prices are on the rise and its prices have more than doubled from April levels at over USD 40 a barrel level, the sources added.

Prices of transportation fuel were last revised under the dynamic pricing policy on March 16 and there were few instances of price hike only when the respective state governments hiked VAT or cess. In a bid to increase revenues during the nationwide lockdown, several state governments raised taxes imposed on transportation fuel.

Already, the gap between cost and sale price of petrol and diesel for OMCs has reached around Rs 5-6 per litre. If this has to be covered over a period of time, given there is no further increase in global prices, auto fuel prices may be increased by 40-60 paise per day for a couple of weeks to cover the losses.

The increase in retail price under daily price revision would largely depend on prevailing oil prices and global oil market at the time. However, lockdown has also curved demand for auto fuel. This could maintain some check on prices.

(With IANS inputs)

Posted By: Aalok Sensharma