Petrol and diesel prices stood at Rs 70.13 a litre and Rs 64.18 a litre in Delhi on MondayPetrol prices were hiked by 37-40 paise per litre and diesel rates by 49-53 paise per litre on Monday.
That marked fifth consecutive hike in domestic fuel prices, and sixth overall so far this year.
In Delhi, price of petrol crossed Rs 70 a litre mark for first time in 2019.
The upwards price revision comes on back of a recovery in crude oil prices in anticipation of tightening supply ahead, say analysts.
Currently, oil marketing companies in country revise domestic prices of petrol and diesel on a daily basis, in line with movement in international crude oil and rupee-dollar forex rates.Petrol price in rupees per litreDelhiKolkataMumbaiChennaiJan-1470.1372.2475.7772.79Jan-1369.7571.8775.3972.39Diesel price in rupees per litreDelhiKolkataMumbaiChennaiJan-1464.1865.9567.1867.78Jan-1363.6965.4666.6667.25(Source: iocl.com)With effect from 6 am on January 14, petrol prices were at Rs 70.13 per litre in Delhi, Rs 72.24 per litre in Kolkata, Rs 75.77 per litre in Mumbai and Rs 72.79 per litre in Chennai, according to Indian Oil Corporation - country's largest fuel retailer.
Diesel prices stood at Rs 64.18 per litre, Rs 65.95 per litre, Rs 67.18 per litre and Rs 67.78 per litre respectively.Besides Monday's hike, petrol and diesel were hiked on January 7, and every day from January 10 to January 13.
The hike on January 13was steepest so far this year.DateHike in price in paise per litre (Delhi, Mumbai, Kolkata, Chennai)PetrolDieselJan-0721-228Jan-1037-4029-31Jan-1119-2028-30Jan-1219-2029-31Jan-1348-5259-63Jan-1437-4049-53(Source: iocl.com)Global crude oil rates have gained strengthafter implementation of production cuts by top producers, recoveringfrom levels below $50 a barrel registered last month.Brent crude futures - international benchmark for crude oil - dropped by $1.2 to settle nearly 2 per cent lower at $60.48 a barrel on Friday.
The global crude benchmark had previous day logged its first nine-day rally since September 2007.(With agency inputs)