New Delhi: Petrol price in the national capital on Friday crossed Rs 80 per litre mark, for the first time in more than two years, as oil companies continue to raise petrol and diesel prices in line with costs.
Oil companies hiked petrol price by 21 paise per litre and diesel by 17 paise a litre, according to a price notification of state oil marketing companies.
Petrol price in Delhi was hiked to Rs 80.13 per litre from Rs 79.92 while diesel rates were increased to Rs 80.19 a litre from Rs 80.02.
Rates have been increased across the country but the final retail selling price differs from state to state depending on the incidence of local sales tax or VAT.
In Mumbai, petrol is priced at Rs 86.91 per litre and diesel at Rs 78.51.
Petrol price has crossed Rs 80-mark for the first time in more than two years, while diesel rate is at an all-time high. Petrol had last crossed Rs 80 mark in September 2018.
While diesel price has been hiked for the 20th straight day, petrol price has been raised on 19 occasions in less than three weeks.
The cumulative increase since the oil companies started the cycle on June 7 now totals to Rs 8.87 for petrol and Rs 10.8 in diesel.
Meanwhile, as far as the residents of Delhi are concerned, they have already suffering the brunt of the coronavirus-induced nationwide lockdown, the fuel price hike has only added to their woes.
A local resident Praveen said that it was wrong for the government to hike fuel prices given the present situation.
"The entire country is suffering right now. It is wrong to hike the fuel prices right now. People are traveling in their private vehicles and not in public transport due to the fear of coronavirus. The gradual rise in prices is making them suffer," he said.
Another resident Santosh Kumar narrated a similar tale.
Fuel prices have broke years-old record. The country is already under lockdown and now, diesel has become costlier than petrol. Only people who will bear the financial brunt in this situation will be the middle class people," Santosh said.
Adding to Santosh's arguments, another resident Balwinder Singh said that the government must show some concern for the people who are struggling to earn their livelihood.
"The government should be concerned about the people. It is not the right time hike fuel prices amid lockdown. People do not have jobs, they are already worried. The government should lower the prices so that we could at least earn our livelihood," Balwinder Singh said.
Diesel had for the first time become costlier than petrol in Delhi on Wednesday.
However, diesel is costlier than petrol only in the national capital where the state government had raised local sales tax or VAT on the fuel sharply last month. It costs less than petrol in other cities.
On June 7, oil companies restarted revising prices in line with costs after ending an 82-day hiatus during which they adjusted steep excise duty hikes by the government against the fall in benchmark international oil rates.
Inputs from PTI
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