Second straight day of hike in petrol, diesel prices

This is the first revision in petrol prices since September 22. Diesel rates had not changed since October 2

The price of petrol was hiked by 15 paise per litre on Saturday (November 21) and diesel by 20 paise. Representative photo: iStock

The price of petrol was hiked by 15 paise per litre and diesel by 20 paise on Saturday. This is the second straight day of increase in rates after international oil rates touched the highest in nearly two months.

The price of petrol in Delhi was hiked to 81.38 per litre from 81.23, according to a notification from oil marketing companies. Diesel rates went up from 70.68 to 70.88 per litre.

On Friday, petrol price was raised by 17 paise per litre and diesel by 22 paise.

Also read: Petrol price up 25 paise, diesel 21 paise; total increase of ₹9.12, ₹11.01 in 3 weeks

This is the first revision in petrol prices since September 22. Diesel rates had not 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 the 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.

Also read: Diesel price hits record high after rates hiked for 14th day in a row; petrol up 51 paise

In Mumbai, the petrol price on Friday was raised to 88.09 per litre from 87.92, while diesel rates went up from 77.11 to 77.34.

Rates vary from state to state depending on the incidence of local sales tax or VAT.

The last time petrol price was increased in August, it was hiked six times a week while diesel prices remained stable.

As of Saturday, the price of petrol in Delhi was 81.38 per litre; in Mumbai it was 87.92 per litre; in Bengaluru it was 84.10 per litre; in Chennai it was 84.46 per litre; and in Hyderabad it was 84.47 per litre.

(With inputs from agencies)

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