Oil marketing companies hiked the rates of petrol and diesel across metros on Friday. With effect from 6 am, the price of petrol was at Rs. 73.06 per litre in Delhi, Rs. 75.77 per litre in Kolkata, Rs 78.73 per litre in Mumbai and Rs 75.93 per litre in Chennai, according to notifications from state-run Indian Oil Corporation (IOC). Petrol prices were hiked by 35 paise per litre in the Delhi, compared to the previous day's rates, data from Indian Oil showed. In Kolkata and Mumbai, the rates were hiked by 34 paise per litre. In Chennai, the petrol prices were increased by 37 paise per litre.
The rate of diesel was at Rs 66.29 per litre in Delhi, Rs 68.70 per litre in Kolkata, Rs 69.54 per litre in Mumbai and Rs 70.07 per litre in Chennai. The prices were increased by 28 paise per litre in Delhi and Kolkata, as compared to Wednesday's rates. In Mumbai and Chennai, the rates were hiked by 30 paise per litre.
State-run oil marketing companies review the domestic fuel prices on a daily basis and any revisions are implemented at the fuel stations with effect from 6 am.
As per the country's daily pricing mechanism, the pump price of petrol and diesel is dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.
Globally, oil prices were on track to jump more than 7 per cent this week, their biggest weekly rise in months, as early trading on Friday saw gains extended on fresh Middle East tensions after a key Saudi Arabian supply hub was knocked out in an attack last weekend.
(With inputs from Reuters)
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