Surge in petrol, diesel prices after 83-day hiatus

On Sunday petroland diesel price was hiked by 60 paisa per litre, as the state-owned oil firmsrestarted daily price revisions after an 83-day hiatus.

Petrol price has been hiked to Rs 71.86 per litre from Rs71.26 a litre till Saturday, while diesel rates were increased to Rs 69.99 perlitre from Rs 69.39 in New Delhi, according to a price notification of stateoil marketing companies.

Fuel prices were last revised on March 16, prior to the nationwide lockdown. The lockdown led to severe losses in the sales of petrol and diesel. According to reports, sales of petrol and diesel fell by 28 per cent and 47.5 per cent, respectively, in the first two weeks of May. In the month of April, the sale of petrol and diesel had declined by 56.5 per cent and 61 per cent respectively.