State-owned oil marketing companies (OMCs) increased the prices of petrol and diesel by 25 paisa per litre across metros for second consecutive on Tuesday. The increase in the pump price of petrol and diesel has come on a day when global oil prices gave a glimpse of softening with crude falling below $ 55 a barrel after almost a week of hovering above that range, reports IANS.
According to a price notification from OMCs, petrol price rose to a lifetime high of Rs 85.20 per litre in Delhi while diesel price increased to Rs 75.38 per litre. After today’s rate revision, petrol price in Dimapur rose to Rs.87.59 per litre and diesel price increased to Rs.78.40 per litre.
In the state capital Kohima, petrol price soared to Rs.88.56 per litre while diesel price was hiked to Rs.79.09 per litre.
State-owned OMCs had on January 6 resumed daily price revisions after nearly a month-long hiatus. OMCs align the prices of domestic fuel with global benchmarks by taking into account alterations in the foreign exchange rates.
Any changes in fuel prices are implemented with effect from 6 am every day.
The fuel rates vary from state to state in the country due to the value-added tax or VAT.