Oil-marketing companies increased the prices of petrol and diesel across the four metro cities on Tuesday. Petrol is priced at Rs. 73.13 per litre in New Delhi, Rs. 75.15 per litre in Kolkata, Rs. 78.70 per litre in Mumbai and Rs. 75.90 per litre in Chennai, according to state-run Indian Oil Corporation's (IOC) website, iocl.com. Petrol prices were increased by 5 paise per litre in all the cities. Diesel rates stood at Rs. 66.71 per litre in New Delhi, Rs. 68.45 per litre in Kolkata, Rs. 69.83 per litre in Mumbai and Rs. 70.44 per litre in Chennai. Diesel rates were increased by 5 paise in Delhi, Kolkata and Chennai, while it was hiked by 6 paise in Mumbai.
State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.
Globally, oil prices on Tuesday reversed earlier losses after Saudi Arabia said a deal between producers to withhold output that has been in place since January could be extended beyond June to cover all of 2019, reported news agency Reuters.
The statements by Saudi energy minister Khalid Al-Falih came despite pressure by US President Donald Trump to raise output to make up for a supply shortfall expected from tightening US sanctions against Iran.
Brent crude futures were at $72.25 per barrel in intraday trade, up 21 cents, or 0.3 per cent, from their last close.
US West Texas Intermediate (WTI) crude futures were at $63.67 per barrel, up 17 cents, or 0.3 per cent, from their previous settlement.
(With agency inputs)