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Petrol and diesel prices in India hiked for sixth day in a row; rates highest since September 2018 – Business News , Firstpost


This is the 15th improve in rates since 20 November, when oil corporations resumed each day worth revision after almost two-month hiatus

Representational picture. Reuters

New Delhi: Petrol and diesel prices rose for the sixth day in a row on Monday as rates went up by 26-30 paise per litre.

Petrol worth was hiked by 30 paise per litre and diesel by 26 paise, in accordance with a worth notification of oil advertising corporations.

Rates for petrol in Delhi rose to Rs 83.71 per litre, from Rs 83.41 whereas diesel worth went up from Rs 73.61 to Rs 73.87 per litre.

This is the sixth straight day of worth hike and the 15th improve in rates since 20 November, when oil corporations resumed each day worth revision after almost two-month hiatus.

Rates are actually on the highest stage since September 2018.

In 18 days, the petrol worth has gone up by Rs 2.65 per litre and diesel fee has risen by Rs 3.41.

The fee improve follows worldwide oil prices rising by a third from lows in October-end. Brent crude oil is nearing $ 50 per barrel mark on hopes that COVID vaccines would result in demand restoration.

Prior to the 20 November hike in rates in India, petrol prices had been static since 22 September and diesel rates hadn’t modified since 2 October.

In Mumbai, petrol worth rose to Rs 90.34 per litre from Rs 90.05, whereas diesel rates went up from Rs 80.23 to Rs 80.51.

Rates fluctuate from state to state relying on the incidence of native gross sales tax or VAT.

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