New Delhi: Petrol prices were increased by 15-16 paise per litre while diesel rates hiked by 18-20 paise per litre in the four metro cities on Monday. Effective 6 am, January 6, 2018, petrol prices were at Rs. 70.43 per litre in Delhi, Rs. 73.17 per litre in Kolkata, Rs. 78.32 per litre in Mumbai and Rs. 73.01 per litre in Chennai, according to Indian Oil Corporation’s website – iocl.com. Diesel rates were at Rs. 60.49 per litre, Rs. 63.15 per litre, Rs. 64.28 per litre and Rs. 63.74 per litre respectively.
Monday’s hike included, petrol prices have been raised by 45-48 paise per litre and diesel rates by Rs. 0.85-1.01 per litre in the four metros in the New Year 2018. Petrol rates witnessed an addition of Rs. 0.72 to Rs. 1.35 per litre across the four major cities in December 2017. Diesel prices – in Delhi, Kolkata, Mumbai and Chennai – rose by Rs. 1.31-Rs. 2.3 during this period.
Oil marketing companies Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation revise the rates based on global oil prices and foreign exchange rates.
Since then, petrol rates have risen by Rs. 3.52 per litre in Delhi, Rs. 3.65 per litre in Kolkata and Rs. 3.08 in Chennai. Diesel prices have increased by Rs. 4.55 per litre in Delhi, Rs. 4.87 per litre in Kolkata, Rs. 2.61 per litre in Mumbai and Rs. 4.52 per litre in Chennai. In Mumbai, however, petrol price has come down by 12 paise per litre during this period, according to the Indian Oil website. Previously, petrol and diesel rates were reviewed on a fortnightly basis across the country.