The oil marketing companies (OMCs) increased petrol prices but reduced diesel prices on Monday after keeping them unchanged on Sunday. The petrol prices were raised by 27-28 paise per litre and diesel prices were cut by 16-17 paise per litre across cities.
Accordingly, the price of petrol increased to Rs 101.19 and reduced to Rs 89.72 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer. In Mumbai, the petrol price hiked to Rs 107.20 per litre on Monday. The cost of diesel lowered to Rs 97.29 a litre.
Fuel prices have been hiked 7 times in the last 12 days. Petrol price has been increased by up to Rs 2.38 and diesel by up to 57 paise in July so far.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.
(Edited by : Anshul)
First Published: IST