NEW DELHI : With fuel demand recovering due to the easing of lockdown restrictions and Brent crude oil trading above $40, state-run fuel retailers today increased the price of petrol and diesel by 60 paise a litre each. This is the first time in around 80 days that oil marketing companies have changed the base price of fuel.
Petrol and diesel prices were last revised on March 16 and in between rates increased only when the respective state governments hiked VAT or cess. To shore up revenues during the coronavirus-induced lockdown, most cash-strapped state governments resorted to hiking in taxes imposed on fuel.
