Petrol and diesel prices were hiked by 25 paise per litre across all major cities on Wednesday.
In Delhi, petrol prices rose to Rs 84.45 a litre on Wednesday as against Rs 84.20 on Tuesday, while diesel price climbed to Rs 74.63 per litre on Wednesday from Rs 74.38 a litre on Tuesday, according to data from Indian Oil Corporation website.
In Kolkata, petrol costs Rs 85.92 a litre, in Chennai, Rs 87.18 a litre, and in Mumbai at Rs 91.07 a litre on Wednesday after the increase. Similarly, in Kolkata, diesel costs Rs 78.22 a litre, in Chennai Rs 79.95 a litre, and in Mumbai, Rs 81.34 a litre after an increase of 25 paise.
Retail prices of the two automobile fuels are revised daily. Petroleum companies revise petrol and diesel prices on the basis of crude prices in the international market. Hence the prices vary according to the company.
Crude oil prices rose by Rs 18 to Rs 3,865 per barrel on Tuesday as participants widened their positions on a firm spot demand.
On the Multi Commodity Exchange, crude oil for January delivery traded higher by Rs 18, or 0.47 per cent, at Rs 3,865 per barrel in 2,621 lots.
Analysts said the raising of bets by participants kept crude oil prices higher in futures trade. Globally, West Texas Intermediate crude oil gained 0.73 per cent to USD 52.63 per barrel, while Brent crude traded 0.61 per cent up at USD 56.00 per barrel in New York.
(Inputs from PTI)