Petrol price breaches the Rs 82 mark
New Delhi, Nov 29:Petrol price crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre after eighth increase in rates in past nine days.
Petrol price on Saturday was hiked by 24 paise per litre and diesel by 27 paise as hopes of a vaccine development led to a rally in international oil prices.
Petrol
price
in
Delhi
rose
to
Rs
82.13
per
litre
from
Rs
81.89,
according
to
a
price
notification
from
oil
marketing
companies.
Diesel
rates
went
up
from
Rs
71.86
to
Rs
72.13
per
litre.
As diesel rates remain unchanged, petrol prices hiked for 6th day
This is the eighth increase in rates since November 20 when oil companies resumed daily price revision after nearly two-week hiatus.
In
nine
days,
petrol
price
has
gone
up
by
Rs
1.07
per
litre
and
diesel
rate
has
risen
by
Rs
1.67.
Prior
to
the
November
20
hike,
petrol
prices
had
been
static
since
September
22
and
diesel
rates
hadn't
changed
since
October
2.
Public
sector
oil
marketing
companies
-
Indian
Oil
Corporation,
Bharat
Petroleum
Corporation
Ltd
and
Hindustan
Petroleum
Corporation
Ltd
-
revise
rates
of
petrol
and
diesel
daily
based
on
benchmark
international
oil
price
and
foreign
exchange
rate.
They
have,
however,
resorted
to
calibrating
the
rates
since
the
pandemic
broke
out
with
a
view
to
avoiding
volatility
in
retail
prices.
The
58-day
hiatus
in
petrol
price
revision
and
48-day
status
quo
on
diesel
rates
were
preceded
by
no
change
in
rates
between
June
30
and
August
15
and
a
85-day
status
quo
between
March
17
and
June
6.
I
n Mumbai, the petrol price on Sunday was raised to Rs 88.81 per litre from Rs 88.58, while diesel rates went up from Rs 78.38 to Rs 78.66. Rates vary from state to state depending on the incidence of local sales tax or VAT.