Petrol, Diesel Prices Hiked For Fourth Straight Day

Petrol and diesel prices were hiked for a fourth straight day in metros on Wednesday, as state-owned oil marketing companies reverted to the normal practice of daily price revisions after a gap of 83 days.

Petrol, Diesel Prices Hiked For Fourth Straight Day

In Delhi, the price of petrol was Rs 73.40 per litre and diesel Rs 71.62 per litre on Wednesday

Petrol and diesel prices were hiked for a fourth straight day in metros on Wednesday, as state-owned oil marketing companies reverted to the normal practice of daily price revisions after a gap of 83 days. In Delhi, the price of petrol was increased by 40 paise per litre and diesel by 45 paise per litre with effect from 6 am on June 10. The price of petrol in the national capital was revised to Rs 73.40 per litre compared to Rs 73 per litre the previous day, and that of diesel to Rs 71.62 per litre from Rs 71.17 per litre on Tuesday, according to notifications by state oil marketing companies. (Also Read: How To Find Latest Petrol, Diesel Rates In Your City)

Here are the current petrol and diesel prices in metros (in rupees per litre):

CityPetrolDiesel
Delhi73.4071.62
Kolkata75.3667.63
Mumbai80.4070.35
Chennai77.4370.13
(Source: Indian Oil)

International oil prices fell on Wednesday as an industry report showed a rise in crude and fuel inventories in the United States, renewing concerns about oversupply and slumping fuel demand in the world's largest crude consumer. Brent crude futures - the global benchmark for crude oil - fell 1.4 per cent to $40.61 per barrel, a day after falling nearly 1 per cent.

State-run oil marketing companies revise the prices of petrol and diesel from time to time, besides aviation turbine fuel (ATF) - or jet fuel - and liquefied petroleum gas (LPG). However, since March 16, the oil companies had kept petrol and diesel prices on hold, possibly due to the volatility in global oil markets.

Fuel retailing in the country is dominated by state refiners - Indian Oil Corporation (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation.

The three own about 90 per cent of the retail fuel outlets in the country.