Petrol, diesel prices rise for sixth straight day

Petrol price was hiked by 30 paise per litre and diesel by 26 paise

Petrol and diesel prices rose for the sixth day in a row on December 7 as rates went up by 26-30 paise per litre.

Petrol price was hiked by 30 paise per litre and diesel by 26 paise, according to a price notification of oil marketing companies.

Rates for petrol in Delhi rose to ₹83.71 per litre, from ₹83.41 while diesel price went up from ₹73.61 to ₹73.87 per litre.

This is the sixth straight day of price hike and the 15th increase in rates since November 20, when oil companies resumed daily price revision after nearly two-month hiatus.

Rates are now at the highest level since September 2018.

In 18 days, the petrol price has gone up by ₹2.65 per litre and diesel rate has risen by ₹3.41.

The rate increase follows international 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 lead to demand recovery.

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

In Mumbai, petrol price rose to ₹90.34 per litre from ₹90.05, while diesel rates went up from ₹80.23 to ₹80.51.

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

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