Petrol, diesel prices hiked for fourth straight day  

Oil marketing companies raised petrol and diesel prices on Sunday, June 30, for a fourth straight day. Petrol prices were hiked by 9 paise per litre in the four metros compared to the previous day's rates, data from Indian Oil showed.

With effect from 6 am, the price of petrol was at ₹70.37 per litre in Delhi, ₹72.63 per litre in Kolkata, ₹76.06 per litre in Mumbai and ₹73.10 per litre in Chennai, according to information from Indian Oil Corporation (IOC).

Price of diesel was at ₹ 64.19 per litre in Delhi, ₹66.11 per litre in Kolkata, ₹67.30 per litre in Mumbai and ₹67.90 per litre in Chennai. In Delhi, Kolkata and Mumbai, the prices were increased by 8 paise per litre each compared to Saturday's rates. The rates in Chennai were hiked by 9 paise per litre.

Oil marketing companies such as Indian Oil, Bharat Petroleum and Hindustan Petroleum review fuel prices on a daily basis, and any revisions are implemented at the fuel stations with effect from 6 am. The domestic fuel prices are determined broadly by the global crude oil and rupee-dollar forex rates.

Globally, oil prices fell on Friday but posted their second straight week of gains ahead of trade talks between the US and Chinese presidents this weekend, and on widely expected production cuts from OPEC on Monday, reported news agency Reuters.

The most active September Brent crude futures fell 93 cents to settle at $64.74 a barrel. Brent August crude futures settled unchanged at $66.55 a barrel.