The oil marketing companies increased the prices of petrol and diesel today, November 28, in the four metro cities – Delhi, Kolkata, Mumbai, and Chennai. The petrol prices breached Rs 82-mark in the national capital, while diesel surpassed Rs 72 per litre after a consecutive eighth increase in rates in past nine days. In the national capital, the price of petrol was hiked from Rs 81.89 to Rs 82.13, while diesel increased from Rs 71.86 to Rs 72.13. The petrol rates were hiked by 24 paise per litre and diesel by 27 paise, tracking hopes of a COVID-19 vaccine development, which led to a rally in international oil prices.
In Mumbai, the fuel rates increased marginally from Rs 88.58 to Rs 88.81 for petrol, while diesel increased from Rs 78.38 to Rs 78.66, according to new notifications from the Indian Oil Corporation. The hike in prices comes one day after petrol rates were increased by 30 paise and diesel rates were increased by as much as 45 paise yesterday (November 27).
(Also Read: How To Check Latest Petrol And Diesel Rates In Your City )
Here are the current prices of petrol and diesel in the four metros (in rupees per litre) :
|Source: Indian Oil|
Since November 20, the oil marketing companies resumed a daily price revision on fuel, after a two-week hiatus. In a matter of nine days, petrol rates have gone up by Rs 1.07 per litre, while diesel rates rose by Rs 1.67. Before the hike in prices, petrol rates were static since September 22, while diesel prices were constant since October 2.
The oil companies align the domestic rates of petrol and diesel with the global benchmarks upon considering the changes in the foreign exchange levels. The state-owned oil marketing firms such as Hindustan Petroleum Corporation, Indian Oil Corporation, Bharat Petroleum hold the majority of the diesel and petro stations across the country. Meanwhile, Indian Oil Corporation is the country’s largest fuel retailer. It revises the domestic fuel rates on a daily basis and implement the new rates with effect from 6 am.