Petrol and diesel prices hiked in Delhi

- Petrol and diesel prices hiked by Rs 1.67 and Rs 7.10 respectively

- The hike is due to increase in VAT by Delhi government

The Delhi government has hiked the VAT on fuel prices in the region, resulting in a significant price hike for petrol and diesel. The VAT on petrol and diesel have been increased from 27% to 30% and 16.75% to 30% respectively. 

Prices for a litre of petrol have been hiked by Rs 1.67 while diesel has become dearer by Rs 7.10. This has resulted in petrol now being priced at Rs 71.26 per litre while diesel costs Rs 69.39 per litre.

The price hike is reported barely a month after India witnessed the worst fuel demand growth in over two decades, details of which are available here. Last month, fuel pump dealers were seeking financial relief to stay afloat during the Coronavirus pandemic, details of which can be read here.