The oil marketing companies (OMCs) hiked the prices of petrol and diesel across the metros on Thursday after a day's pause. Petrol price has been increased by around 25-30 paise whereas diesel prices raised by 28-32 paise per litre.
In Delhi, petrol prices were increased by 25 paise from Rs 101.39 per litre to Rs 101.64 per litre, whereas diesel has become dearer by 30 paise from Rs 89.57 per litre to Rs 89.87 per litre.
Fuel prices differ from state to state depending on the incidence of local taxes such as value-added tax (VAT) and freight charges.
In Mumbai, the retail price of petrol jumped to Rs 107.71 per litre on Thursday. Diesel price also increased in the city by 31 paise per litre to reach Rs 97.52 a litre, the highest among metros.
In Chennai, petrol is retailed at Rs 99.36 and diesel at Rs 94.45 per litre while in Kolkata, petrol costs Rs 102.17 and diesel Rs 92.97 per litre.
Fuel prices in the country have been hovering at record levels on account of 41 increases in its retail rates since April this year. It fell on few occasions but largely remained stable.
Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised on a daily basis. The new prices become effective from morning at 6 am.
The daily review and revision of prices are based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
(With inputs from Agencies)
(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)