With today 6th day Continous hike, petrol price has gone up by Rs 3.31 per litre and diesel by Rs 3.42. This means average Rs 0.57 hike each day
In India When International Crude Prices fall to historic low no benefit to consumers given but when Crude prices rise Price hikes provided instantly .
Oil PSUs – Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) – had put daily price revisions on hold soon after the government on March 14, hiked excise duty on petrol and diesel by Rs 3 per litre each.
Also Oil companies passed excise duty hike, as well as the May 6 increase in tax on petrol by Rs 10 per litre and Rs 13 a litre hike on diesel by setting them off against the decline in retail prices
Petrol price on Friday was hiked by 57 paise per litre and diesel by 59 paise a litre as oil companies adjusted retail rates the sixth straight day of increase in rates since oil firms ended an 82-day hiatus of rate revision.
As a result of 6th day rise Petrol price in Delhi was hiked to Rs 74.57 per litre from Rs 74, while diesel rates were increased to Rs 72.81 a litre from Rs 72.22, according to a price notification of state oil marketing companies.
Modi led centre BJP government ensured no benefit been passed to common consumer even when international crude prices dropped to historic low but Rates have been increased across the country when crude prices are stabilised
Rates have been increased across the country and vary in each state depending on the incidence of local sales tax or value added tax.
This is the sixth consecutive daily increase in rates since oil companies on Sunday restarted revising prices in line with costs, after ending an 82-day hiatus.