Oil marketing companies increased the prices of petrol and diesel on Monday, which marked a fifth straight day of hike in the fuel rates. With effect from 6 am on Monday, the price of petrol was at Rs. 70.44 per litre in Delhi, Rs. 72.67 per litre in Kolkata, Rs. 76.11 per litre in Mumbai and Rs. 73.15 per litre in Chennai, according to Indian Oil Corporation's (IOC) website, iocl.com. Petrol prices were hiked in the range of 4-7 paise per litre in the four metros compared to the previous day's rates, data from Indian Oil showed.
In Delhi and Kolkata, petrol prices were hiked by 7 and 4 paise per litre, respectively. In Mumbai and Chennai, the rates were increased by 5 paise per litre.
The rate of diesel was at Rs. 64.27 per litre in Delhi, Rs. 66.16 per litre in Kolkata, Rs. 67.36 per litre in Mumbai and Rs. 67.96 per litre in Chennai. In Delhi and Kolkata, diesel prices were hiked by 8 and 5 paise per litre, respectively. In Mumbai and Chennai, the rates were increased by 6 paise per litre.
Here are the petrol, diesel rates across metros:
(In Delhi, diesel prices were hiked by 8 paise per litre)
Oil marketing companies review fuel prices on a daily basis, and any revisions are implemented at the fuel stations with effect from 6 am. The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.
Globally, oil prices were up on Monday as OPEC and its allies looked on track to extend supply cuts until at least the end of 2019 at their meeting in Vienna this week, reported news agency Reuters.
Brent crude futures for September delivery rose to as high as $66.75 a barrel and were up $1.89 at $66.63 a barrel in intraday trade.
(With agency inputs)
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