Global gas demand to decline 2022: Gazprom
According to preliminary long-term predictions, world gas consumption would increase by 20% over the next 20 years.
Fuel prices recorded a ninth consecutive hike on Monday, taking total increase over the past nine days to nearly Rupees five per litre. On Monday, oil companies increased petrol prices by 48 paise per litre and diesel by 23 paise a litre.
In the national capital, petrol price was hiked to Rs 76.26 per litre from Rs 75.78, while diesel rates were increased to Rs 74.26 a litre from Rs 74.03.
Since the dynamic price revision resumed on June 7, prices of petrol and diesel have continuously increased by Rs 5 per litre and Rs 4.87 a litre.
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Rates have been increased across the country and vary from state to state depending on the incidence of local sales tax or VAT.
In Mumbai, Chennai and Kolkata, petrol was priced at Rs 83.17, Rs 79.96 and Rs 78.10, higher from Rs 82.70, Rs 79.53 and Rs 77.64 per litre respectively.
Diesel prices in these cities were Rs 73.21 (Mumbai), Rs 72.69 (Chennai) and Rs 70.33 (Kolkata), compared with Rs 72.64, Rs 72.18 and Rs 69.80 respectively on Saturday.
The freeze in rates was imposed in mid-March soon after the government hiked excise duty on petrol and diesel to shore up additional finances.
Oil PSUs Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) instead of passing on the excise duty hikes to customers adjusted them against the fall in the retail rates that was warranted because of fall in international oil prices.
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