Petrol, Diesel Prices Hiked

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.

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.

The fuel rates vary from city to city and from pump to pump, depending on local taxes and transportation cost.

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