Petrol, Diesel Rates Hiked For Fourth Consecutive Day On Saturday

Petrol and diesel prices on Saturday were hiked for the fourth consecutive day across all metro cities. As per the latest notification from India Oil Corporation, both the auto fuels were increased by up to 27 paise each. In the last sixteen days, the fuel rates have been hiked on thirteen occasions that came into effect from 6 am today. In Delhi, the petrol price was hiked by 27 paise from Rs. 82.86 per litre to Rs. 83.13 per litre, while diesel rate went up by 25 paise to Rs. 73.32 per litre from Rs. 73.07 per litre.

Here are the prices of petrol and diesel in the five metros on December 05, 2020:

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Customers in Delhi will have to shell out Rs. 83.13 per litre of petrol

In the last 16 days, the petrol price has increased by Rs. 2.07 per litre, and diesel rate has risen by Rs 2.86 per litre. The revised petrol and diesel rates in Mumbai stood at Rs. 89.78 per litre and Rs. 79.93 per litre witnessing a hike of 26 paise and 27 paise respectively. On Friday, the auto fuels retailed at Rs. 89.52 per litre and Rs. 79.66 per litre, respectively.

The retail price of petrol in Kolkata went up by 26 paise to Rs 84.63 per litre from Rs. 84.37 a litre and diesel increased to Rs. 76.89 per litre. In Chennai and Bengaluru, petrol retailed at Rs. 86 and Rs. 85.91 respectively. On the other hand, diesel retailed at Rs. 78.69 in Chennai and Rs. 77.73 in Bengaluru.

Diesel retailed at Rs. 78.69 in Chennai and Rs. 77.73 in Bengaluru

Oil marketing companies (OMCs) have been revising the retail rates of petroleum products since November 20, 2020. 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 an 85-day status quo between March 17 and June 6.

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Petrol, Diesel rates vary from state to state depending on the incidence of local sales tax or VAT. Indian Oil Corporation, Bharat Petroleum Corporation, and Hindustan Petroleum Corporation are the three major oil marketing companies in India. The oil marketing companies revise petrol and diesel rates daily and make necessary changes to align the petroleum prices with global benchmark and dollar-rupee exchange rate.