Petrol, diesel price hike rally continues for 7th consecutive day. Check rates

Citizens of the country saw no respite from the price hike rally of petrol and diesel on Monday as the prices of the fossil fuels were hiked for the seventh consecutive day by oil marketing firms. Price of petrol was hiked by ₹0.30 for a litre and that of diesel was hiked by ₹0.35 per litre in Delhi.

The price of petrol in the national capital soared to ₹104.44 per litre while that of diesel went up to ₹93.17 for a litre. In Mumbai, petrol touched ₹110.41 per litre while diesel also recently breached the ₹100-mark and is now at ₹101.03 per litre after the state saw a hike in petrol price by ₹0.29 per litre. The rate of diesel in Mumbai was hiked by ₹0.37 per litre.

In Kolkata, petrol is being retailed at ₹105.09 per litre while the price of diesel has soared to ₹96.28 for each litre. Chennai is selling petrol at ₹101.89 for each litre while diesel is being retailed in the city for ₹97.69 for a litre.

This is one of the biggest fuel price hike rallies for both petrol and diesel rates, leading to the largest retail rate incidence for the consumers in the country.

The latest series of price hikes for petrol and diesel come on the back of the rising price of crude oil in the international market. Price of Brent crude has increased to $82 per barrel after the group of oil-producing countries - OPEC - has decided to not increase the volume of oil production by more than 0.4 million barrels per day. This has led to a price surge in the international market. India imports 85 per cent of its total fuel demand from overseas markets, thus being largely dependent on imports to meet its fuel demand.