Image Source: NDTV

Petrol and diesel prices were hiked in metros on Tuesday, marking the tenth straight day of increase since state-owned oil companies returned to the normal practice of daily reviews following a 12-week pause. With effect from 6 am, the prices of petrol was increased by 47 paise per litre and diesel by 57 paise per litre in Delhi, compared to the previous day. While the price of petrol was revised to Rs 76.73 per litre in the national capital from Rs 76.26 per litre the previous day, the diesel rate was increased to Rs 75.19 per litre from Rs 74.62 per litre, according to notifications from state-run Indian Oil Corporation, the country's largest fuel retailer. In the ten-day period, the price of petrol has been increased by a cumulative Rs 5.47 per litre, and diesel by Rs 5.80 per litre.
Current petrol and diesel prices in metros (in rupees per litre):
City Petrol Diesel
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Delhi 76.73 75.19
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Kolkata 78.55 70.84
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Mumbai 83.62 73.75
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Chennai 80.37 73.17
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Crude oil futures erased early gains amid persistent doubts over whether supply cuts would be enough to reduce an oil glut. Brent crude futures - the global benchmark for crude oil were last seen trading down 1.2 per cent at $39.23 per barrel. State-run oil marketing companies revise the prices of petrol and diesel from time to time, besides aviation turbine fuel (ATF) or jet fuel - and liquefied petroleum gas (LPG). However, since March 16, the oil companies had kept petrol and diesel prices on hold, possibly due to the volatility in global oil markets. Fuel retailing in the country is dominated by state refiners - Indian Oil Corporation, Bharat Petroleum Corporation and Hindustan Petroleum Corporation. The three own about 90 per cent of the retail fuel outlets in the country.