In the third straight day of increase on Wednesday, petrol and diesel prices were today hiked 15 paise per litre in Delhi and Mumbai, 14 paise per litre in Kolkata and 16 paise per litre in Chennai, according to the Indian Oil Corporation showed. Petrol reached over 75-mark in Delhi and is selling at Rs 75.10 today in the national capital. The petrol prices are Rs 77.79 in Kolkata, Rs 82.94 in Mumbai and Rs 77.93 in Chennai, respectively. Diesel prices were hiked by 21 paise per litre in Delhi and Kolkata, 22 paise per litre in Mumbai and 23 paise per litre in Chennai.
Diesel prices are now Rs 66.57 in New Delhi, Rs 69.11 in Kolkata, Rs 70.88 in Mumbai and Rs 70.25 in Chennai today. Since September 2013, petrol prices are at their highest level and diesel prices are also at their all-time high in Delhi.
It is the third hike in a row after the Karnataka elections ended. The state-run oil marketing companies kept the rate on hold for 19 days. On Monday, the first hike in petrol, diesel rates was witnessed. In April, Union Petroleum Minister Dharmendra Pradhan said the Centre and the state governments have been considering bringing the petroleum products under the ambit of Goods and Services Tax.
The prices of global crude cooled down a bit after retreating from multi-year highs that was touched on Tuesday. The prices of crude oil were supported on the worries that the sanctions by the US on Iran are likely to limit crude exports from one of the biggest producers in the Middle East. Brent crude oil had touched an intraday peak of $79.47 a barrel its highest since November 2014.