Petrol and diesel prices were hiked marginally on Monday, making a fifth day of upwards revision in the rates. While the petrol prices were increased in the range of 14-16 paise per litre in Delhi, Mumbai, Kolkata and Chennai, the diesel rates were raised by 16-17 paise per litre, data from Indian Oil Corporation showed. Domestic fuel prices are up around 4-6 per cent so far this year, as against a 24.8 per cent increase in global crude oil rates. The fuel prices have been revised upwards 11 times in 12 days, according to the Indian Oil data.
Here are 10 things to know about domestic petrol and diesel prices today:
1. With effect from 6 am on February 25, petrol rates were at Rs 71.57 per litre in Delhi and Rs 77.2 per litre in Mumbai, according to the data from Indian Oil, the country's largest fuel retailer. Diesel prices were at Rs 66.8 per litre and Rs 69.97 per litre respectively.
2. In Kolkata, the price of petrol was at Rs 73.67 per litre and that of diesel at Rs 68.59 a litre. In Chennai, the prices were at Rs 74.32 a litre and Rs 70.59 a litre respectively, according to IOC.
3. Also, the fuel prices have gone up 11 times in 12 days, the data showed.
4. Currently, the prices of petrol and diesel are reviewed by oil marketing companies such as Indian Oil on a daily basis, and any changes are effected at fuel stations at 6 am.
5. Petrol and diesel prices are determined broadly by the rates of crude oil overseas and rupee-dollar in the forex market.
6. The fuel rates vary from city to city and from pump to pump, depending on local taxes and transportation cost.
7. Petrol prices are up Rs 2.73 per litre each in Delhi and Mumbai so far this year. Diesel prices have been raised by Rs 3.94 per litre and Rs 4.21 per litre respectively.
8. Global crude oil prices have declined 22.6 per cent since the October high of $86.74 a barrel.
9. However, Brent futures - the global benchmark for crude oil - have risen about 24.8 per cent so far in 2019.
10. The rupee has weakened nearly 2 per cent against the dollar so far this calendar year.
(With agency inputs)
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