Gasoline prices in Mumbai and Kolkata increased by 59 paisa (performance)
New Delhi:
Gasoline and diesel prices were raised on Sunday by 60 paisa per liter, while state oil companies resumed daily price revisions after an 82-day hiatus.
Oil prices in Delhi increased by Rs 71.86 per liter from Rs 71.26 per liter, while diesel prices were increased to Rs 69.99 per liter from Rs 69.39, according to price notification from Crown oil marketing companies.
Daily price reviews have resumed, said an official at an oil company.
While the oil PSUs have regularly revised the prices of aviation turbine fuel (ATF) and LPG, they have maintained the prices of petrol and diesel since March 16, apparently due to the extreme volatility of the markets international tankers.
Fuel prices were frozen shortly after the government raised excise duties on gasoline and diesel by 3 rupees per liter to offset the gains from lower international rates.
On May 6, the government again raised excise duties by 10 rupees per liter on gasoline and 13 rupees per liter on diesel.
The oil companies, instead of passing on the increased excise duties to consumers, decided to adapt them to the reduction required due to the fall in international oil prices. They used the same tool and did not pass on the increase in Re 1 per liter necessary to switch to ultra-clean BS-VI quality fuel from April 1.
The price of petrol in Mumbai and Kolkata has increased by 59 paisa each to Rs 78.91 and Rs 73.89 per liter, respectively. In Chennai, the increase was 53 paisa to Rs 76.07, according to the price notification.
For diesel, the price was increased by 58 paisa in Mumbai to Rs 68.79 and in Calcutta by 55 paisa to Rs 66.17. In Chennai, the price increased from Rs 68.22 to Rs 68.74.
