Petrol cost climbed by 19 paise, diesel by 28 paise

New Delhi, Jan 11 Petrol cost was climbed Friday by 19 paise per litre and diesel by 28 paise, the second increase in rates in the same number of days on firming input cost.

Petrol in Delhi currently costs Rs 69.07 per litre - the most noteworthy this month - up from Rs 68.88 per litre rate of Thursday, as per value warning issued by state-owned oil firms.

A litre of diesel in Delhi is currently valued at Rs 62.81 as compared to Rs 62.53 on Thursday.

In Mumbai, petrol presently costs Rs 74.72 a litre and diesel is priced at Rs 65.73.

Rates differ from state to state contingent upon the rate of nearby deals duty or VAT.

The expansion - third this month - returns on the of a 38 paise increase in petrol rates and 29 paise if there should arise an occurrence of diesel declared on Thursday.

On January 7, the petrol cost was hiked by 21 paise and diesel by 8 paise. Rates were unaltered on January 8 and 9.

In three climbs, petrol cost has gone up by an aggregate of 78 paise a litre and diesel by 55 paise, as per the value warning.

Before these climbs, rates had cooled to a year low of Rs 68.29 for petroleum and Rs 62.16 in the event of diesel. This pursued a decrease in rates on practically all days since October 18, 2018.

Altogether, the petrol cost has fallen by Rs 14.54 per litre since October 18, more than invalidating the majority of the climbs that were seen in the two-month time frame starting mid-August. Diesel cost has declined by? Rs 13.53 per litre in more than two months.

Petrol cost had touched a record high of Rs 84 for each litre in Delhi and Rs 91.34 in Mumbai on October 4. Diesel on that day had topped to Rs 75.45 a litre in Delhi and Rs 80.10 in Mumbai.

Costs had begun to move from August 16.

Petrol in Delhi was valued at Rs 77.14 and in Mumbai at Rs 84.58 per litre on August 15. Diesel on that day was priced at Rs 68.72 per litre in Delhi and Rs 72.96 in Mumbai.

Between August 16 and October 4, the petrol cost was climbed by Rs 6.86 per litre and diesel by Rs 6.73.

On that day, the government decided to cut excise duty on petrol and diesel by Rs 1.50 per litre each and asked state-claimed fuel retailers to sponsor the cost by another Re 1 a litre by reducing their margins.

Subsequent to this, the oil value directed to Rs 81.50 per litre in Delhi and diesel to Rs 72.95 a litre on October 5. In Mumbai, rates tumbled to Rs 86.97 for oil and Rs 77.45 if there should arise an occurrence of diesel.

As the international oil costs kept on rising, the costs of oil and diesel in Delhi expanded to Rs 82.83 and Rs 75.69 individually, on October 17. In Mumbai, rates contacted Rs 88.29 a litre for oil and Rs 79.35 for diesel.

But since then, international oil prices have been falling and the rupee has also appreciated, resulting in a decline in retail rates.