<p>Petrol price on Sunday was hiked by 28 paise per litre and diesel by 29 paise, the fifth straight day of increase in rates due to firming international oil prices.</p>.<p>Petrol price in Delhi rose to Rs 83.41 per litre from Rs 83.13. Diesel rates went up from Rs 73.32 to Rs 73.61 per litre, according to a price notification of oil marketing companies.</p>.<p>Rates crossed Rs 90-mark for petrol and Rs 80 in the case of diesel in Mumbai.</p>.<p>This is the fifth straight day of price hike and the 14th increase in rates since November 20 when oil companies resumed daily price revision after nearly two-month hiatus.</p>.<p>Rates are now at the highest level since September 2018.</p>.<p>In 17 days, the petrol price has gone up by Rs 2.35 per litre and diesel rate has risen by Rs 3.15.</p>.<p>Brent crude oil has risen 34 per cent from USD 36.9 per barrel on October 30 to USD 49.5 on December 4 - the last trading day - on hopes that COVID-19 vaccines would lead to demand recovery.</p>.<p>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.</p>.<p>Public sector oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - revise rates of petrol and diesel daily based on benchmark international oil price and foreign exchange rate.</p>.<p>They had, however, resorted to calibrating the rates since the pandemic broke out with a view to avoiding volatility in retail prices.</p>.<p>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.</p>.<p>In Mumbai, the petrol price was raised to Rs 90.05 per litre from Rs 89.78, while diesel rates went up from Rs 79.93 to Rs 80.23.</p>.<p>Rates vary from state to state depending on the incidence of local sales tax or VAT.</p>
<p>Petrol price on Sunday was hiked by 28 paise per litre and diesel by 29 paise, the fifth straight day of increase in rates due to firming international oil prices.</p>.<p>Petrol price in Delhi rose to Rs 83.41 per litre from Rs 83.13. Diesel rates went up from Rs 73.32 to Rs 73.61 per litre, according to a price notification of oil marketing companies.</p>.<p>Rates crossed Rs 90-mark for petrol and Rs 80 in the case of diesel in Mumbai.</p>.<p>This is the fifth straight day of price hike and the 14th increase in rates since November 20 when oil companies resumed daily price revision after nearly two-month hiatus.</p>.<p>Rates are now at the highest level since September 2018.</p>.<p>In 17 days, the petrol price has gone up by Rs 2.35 per litre and diesel rate has risen by Rs 3.15.</p>.<p>Brent crude oil has risen 34 per cent from USD 36.9 per barrel on October 30 to USD 49.5 on December 4 - the last trading day - on hopes that COVID-19 vaccines would lead to demand recovery.</p>.<p>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.</p>.<p>Public sector oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) - revise rates of petrol and diesel daily based on benchmark international oil price and foreign exchange rate.</p>.<p>They had, however, resorted to calibrating the rates since the pandemic broke out with a view to avoiding volatility in retail prices.</p>.<p>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.</p>.<p>In Mumbai, the petrol price was raised to Rs 90.05 per litre from Rs 89.78, while diesel rates went up from Rs 79.93 to Rs 80.23.</p>.<p>Rates vary from state to state depending on the incidence of local sales tax or VAT.</p>