Gasoline prices rose for the fifth day in a row

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New Delhi, 24 August 2020 Monday

Oil companies on Monday hiked petrol prices again. The price of petrol has been rising steadily for the last five days. On Monday, the price of petrol in Delhi rose by 13 paise to Rs 81.62 a liter.

Gasoline prices have risen on all but one day in the past week. But there has been no change in the price of diesel. Diesel prices have risen sharply in the past month. In the last nine days, petrol has gone up by about Rs 1.19.

Today's prices in major cities

After the hike on Monday, petrol in Delhi has gone up to Rs 81.62 a liter and diesel to Rs 73.56 a liter. In Mumbai, petrol is priced at Rs 88.28 a liter and diesel at Rs 80.11 a liter. In Chennai, petrol is priced at Rs 84.64 per liter and diesel at Rs 78.86 per liter. In Kolkata, petrol is priced at Rs 83.13 a liter and diesel at Rs 77.06.

Why prices are rising

It may be mentioned that during the lockdown, the government had increased the tax on petrol-diesel, after which the prices went up.

Petroleum companies are now improving their bookkeeping by raising prices. Crude oil prices have been falling for the past several months. However, fuel prices are rising in India.

This is because the oil companies have suffered huge losses in the lockdown which they are now compensating. In the meantime, if the government's revenue falls, it has also tried to fill its coffers by raising taxes.

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