Petrol, diesel prices hiked across metro cities for fourth consecutive day

Petrol and diesel prices were revised across the metro cities by oil-marketing companies on Sunday. Petrol is priced at ₹ 71.67 per litre in New Delhi, ₹73.73 per litre in Kolkata, ₹77.28 per litre in Mumbai and ₹74.39 per litre in Chennai, according to state-run Indian Oil Corporation's (IOC) website. Petrol prices were hiked by 14 paise per litre in Delhi, Mumbai and Chennai. In Kolkata, the prices were increased by 13 paise per litre.

Diesel prices were at ₹66.64 per litre in New Delhi, ₹68.40 per litre in Kolkata, ₹69.83 per litre in Mumbai and ₹70.45 per litre in Chennai. In Delhi and Kolkata, the prices were increased by 7 paise per litre. In Mumbai and Chennai, the rates were hiked by 8 paise per litre.

State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices with effect from 6 am on a daily basis.

Oil prices climbed more than 1 per cent on Friday ahead of long US and UK holiday weekends, but posted the biggest weekly drop of the year, pressured by rising inventories and worries about the global economy, reported news agency Reuters.

Brent crude rose 93 cents, or 1.4 per cent, to settle at $68.69 a barrel, but the global benchmark notched a weekly decline of about 4.5 per cent.

US West Texas Intermediate crude rose 72 cents, or 1.2 per cent, to end at $58.63 a barrel. It notched a weekly decline of about 6.4 per cent, its steepest since December.

with inputs from agencies