Petrol prices were increased by 54 paise/ litre, and diesel prices by 58 paise/litre on Tuesday. In Delhi, petrol prices were at Rs 73.00 per litre. On Monday, petrol was at 72.46 per litre. The national capital also witnessed an increase in diesel prices as well. The diesel in Delhi is prices ar Rs 71.17 a litre from Rs 70.59 paise litre.
In Mumbai, petrol rates were increased by 52 paise litre and diesel by 55 paise a litre on Tuesday. In Mumbai, petrol prices stood at Rs 80.01/litre, and diesel prices at Rs 69.92/litre.
In Chennai, petrol rates were increased by 48 paise a litre on Tuesday. Petrol was sold at Rs 77.08 today. Whereas, prices of diesel in the city were recorded at 69.74 per litre.
In Kolkata, the petrol rates were at Rs 74.98 per liter---an increase of 52 paise since yesterday.
Since Sunday, fuel companies have started revising petrol and diesel prices in line with costs, after ending an 82-day hiatus. In the last three days, the petrol price has gone up by Rs 1.74 per litre and diesel by Rs 1.78 a litre.
Prices were raised by 60 paise per litre each on both petrol and diesel on Sunday as well as on Monday.
The key reason behind the increase in fuel prices was that oil PSUs had put daily price revisions on hold soon after the government on March 14 hiked excise duty on petrol and diesel by Rs 3 per litre each.
Oil companies did not pass on the excise duty hike to customers and instead set them off against the decline in retail prices. Besides, petrol and diesel prices were frozen due to extreme volatility in the international oil markets. And, since the markets have relatively stabilised, daily price revision has started again.