Petrol, diesel gets costlier for the eighth time

Petrol price on November 28 crossed Rs 82-mark in Delhi and diesel surpassed Rs 72 a litre, a hike of 24 paise per litre and 27 paise respectively.

Now the price of petrol in Delhi is Rs 82.13 per litre from 81.89. Diesel rates went up from 71.86 to 72.13 per litre.

This is the eighth increase in rates since November 20 when oil companies resumed daily price revision after nearly two-week hiatus. Before November 20, petrol prices had been static since September 22 and diesel rates hadn’t changed since October 2.

In nine days, the petrol price has gone up by Rs1.07 per litre and diesel rate has risen by Rs.1.67.
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.

In Mumbai, the petrol price on Sunday climbed to Rs88. 81 per litre from 88.58, while diesel rates went up from 78.38 to Rs 78.66

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