Petrol prices go up for the 1st time in 2 months

Nov. 20: State-oil retailing companies on Friday increased the retail selling price of both diesel and petrol. Petrol prices were hiked by 17 paise per litre and diesel by 22 paise. Petrol price in Delhi was hiked to Rs 81.23 per litre from Rs 81.06, according to a price notification from oil marketing companies. This is the first revision in petrol prices since September 22. Diesel rates hadn’t changed since October 2.

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 rate. They have, however, restored to calibrating the rates since the pandemic broke out with a view to avoiding volatility in retail prices.