Business

Petrol, Diesel Prices Hiked For The 5th Consecutive Day

ASHISH MEENA | 0
4645
| July 9 , 2018 , 18:17 IST

Fuel prices across four metropolitan cities rose for the 5th consecutive day on Monday. Petrol price in Delhi has reached up to Rs.76.36 per litre, in Mumbai it was Rs 83.75 per litre, in Chennai Rs.79.25 per litre and in Kolkata it was being sold at Rs 79.03 per litre.

There was a hike in Diesel prices as well around 22 paise.

The revised diesel prices stand at Rs.68.07 per litre in Delhi, in Mumbai, it is Rs.72.23 per litre, in Kolkata Rs.70.62 and rates in Chennai at Rs.71.85.

The rise in petrol prices started since 5th July by a cumulative 80-85 paise per litre whereas diesel rates raised by 69-74 paise per litre.

Oil marketing companies like Indian Oil, Bharat Petroleum and Hindustan Petroleum applied the revised fuel prices from 6:00 am on 9th July.

Petrol prices in Delhi are the lowest among all three metropolitan cities due to lower Value added tax (VAT). Fuel prices are mainly determined by oil marketing companies according to global crude oil rates.

According to oil marketing company officials in New Delhi, "US is putting pressure on importers of Iranian oil such as India and China to end all imports by November 4".