Fuel Prices Today: In Delhi, the price of petrol was Rs 72.46 per litre and diesel Rs 70.59 per litre
Petrol and diesel prices were hiked by 60 paise per litre on Monday, as state-owned oil marketing companies reverted to the normal practice of daily price revisions after a gap of 83 days. Monday's hike marked a second straight day of upwards revision in fuel prices by 60 paise per litre. After the hike, the price of petrol in Delhi wase raised to Rs 72.46 per litre on Monday, compared to Rs 71.86 per litre the previous day. The price of diesel was increased to Rs 70.59 per litre in the national capital, from Rs 69.99 per litre on Sunday, according to notifications by state oil marketing companies. On Sunday, the oil companies had raised the prices of petrol and diesel by a similar 60 paise per litre.
(Also Read: How To Find Latest Petrol, Diesel Rates In Your City)
International oil prices rose on Monday, but gave up big early gains as optimism over major crude producers' deal to extend record output cuts gave way to disappointment that the accord didn't extend beyond the end of July.
Brent crude futures - the global benchmark for crude oil - were last seen trading up 0.5 per cent at $42.51 per barrel, having earlier climbed to as high as $43.41 per barrel, their highest level recorded since March 6.
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 (IOC), Bharat Petroleum Corporation and Hindustan Petroleum Corporation.
The three own about 90 per cent of the retail fuel outlets in the country.
