(FE)
Petrol prices were hiked for the third straight day on Saturday, by 19-20 paise in the major metros. In Delhi, one litre of petrol retailed at Rs 76.95 as compared to Rs 76.76 yesterday, implying a hike of 19 paise. In Kolkata and Mumbai too, petrol prices were hiked by 19 paise each to Rs 79.61 and Rs 84.33. In Chennai, the prices were hiked by 20 paise, data sourced from IOC app showed.
The above rates are applicable from 6 am on July 14, 2018. State-run oil marketing companies Indian Oil, Bharat Petroleum and Hindustan Petroleum revise fuel prices, which come into effect from 6 am on a daily basis. Notably, the government allowed revision of fuel rates on a daily basis since mid-June last year to reflect changes in costs instantly. Oil prices edged lower on Friday and were set for a second weekly fall, as the market shrugged off a warning that spare capacity may be stretched as OPEC and Russia increase production.
