Oil-marketing companies increased the prices of fuel across the four metro cities on Sunday. Petrol is priced at Rs. 72.92 per litre in New Delhi, Rs. 74.94 per litre in Kolkata, Rs.78.49 per litre in Mumbai and Rs. 75.68 per litre in Chennai, according to state-run Indian Oil Corporation’s (IOC) website, iocl.com.
Petrol prices were hiked by 6 paise in all the metros. Diesel rates stood at Rs. 66.26 per litre in New Delhi, Rs. 68.00 per litre in Kolkata, Rs. 69.35 per litre in Mumbai and Rs. 69.96 per litre in Chennai. Diesel prices were hiked by 7 paise in Delhi, Kolkata and Chennai, while it was increased by 8 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.
As per the daily dynamic pricing regime, domestic fuel prices depend on international fuel prices on a 15-day average, besides the value of the rupee. This is because a large proportion of country’s requirement is met through imports.