NEW DELHI: Petrol price shot past the Rs 82 per litre-mark \u2013 highest since August 30 \u2013 and diesel rose above Rs 72 in Delhi on Saturday as high taxes amplified the impact of international crude rebounding to its highest in eight months on hopes of early demand recovery following the success of Covid vaccine candidates.
\nBenchmark Brent spiked 1.6% to $48.61 per barrel on Wednesday before the oil markets closed for the Thanksgiving holiday. News of vaccines showing above-90% success rate and hope of OPEC-Plus grouping extending the production cut deal has lifted the oil markets since October 26.
\nAs the impact of this rally began hitting home, state-run fuel retailers started raising pump prices from November 20 after a gap of about two months. Since then, petrol has become costlier by Re 1 a litre and diesel by Rs 1.67 in Delhi.
\nThe increase in pump prices is more in states such as Maharashtra that levy higher VAT. In Mumbai, for example, petrol price rose to Rs 88.81 per litre and diesel climbed to Rs 78.66. The retailers had held the price of petrol since September 22 and diesel since October 2 as crude moved in a narrow range.<\/p>\n","protected":false},"excerpt":{"rendered":"
NEW DELHI: Petrol price shot past the Rs 82 per litre-mark \u2013 highest since August 30 \u2013 and diesel rose above Rs 72 in Delhi on Saturday as high taxes amplified the impact of international crude rebounding to its highest in eight months on hopes of early demand recovery following the success of Covid vaccine candidates. Benchmark Brent spiked 1.6% to $48.61 per barrel on Wednesday before the oil markets closed for the Thanksgiving holiday. News of vaccines showing above-90% success rate and hope of OPEC-Plus grouping extending the production cut deal has lifted the oil markets since October 26. […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,219,137],"tags":[],"class_list":["post-387127","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-times-of-india","category-the-times-of-india"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387127","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=387127"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387127\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}