Petrol prices were hiked by 37-40 paise per litre and diesel rates by 49-53 paise per litre today.
That marked the fifth consecutive hike in domestic fuel prices, and the sixth overall so far this year. In Delhi, the price of petrol crossed the Rs. 70 a litre mark for the first time in 2019.
The upwards price revision comes on the back of a recovery in crude oil prices in anticipation of tightening supply ahead, say analysts. Currently, oil marketing companies in the country revise the domestic prices of petrol and diesel on a daily basis, in line with the movement in international crude oil and rupee-dollar forex rates.