Petrol and diesel prices witnessed a hike across the metros for the second consecutive day on Friday.
In the national capital, the price of petrol was increased by 30 paise from Rs 86.65 per litre to Rs 86.95 per litre, and diesel saw an upward revision from ₹ 76.83 per litre to ₹ 77.13 per litre, according to Indian Oil Corporation.
All four major metros saw a hike in petrol prices, the highest among witnessed in Mumbai where the petrol and diesel prices stood at ₹ 93.49 per litre and ₹ 83.99 per litre respectively.
According to a report by NDTV, Indian Oil Corporation, Bharat Petroleum, and Hindustan Petroleum align the prices of domestic fuel with the global benchmarks, by taking into account any alterations in the foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.
Petrol and diesel prices have recorded an upswing since January 6, 2021, after staying unchanged for almost a month. Fuel rates have increased amid a rally in global crude oil prices, with COVID-19 vaccination drives beginning across the world.
Following a seven-day lull, petrol and diesel prices witnessed a hike on February 4. In the national capital, the price of petrol was increased by 35 paise from Rs 86.30 per litre to Rs 86.65 per litre, and diesel saw an upward revision from ₹ 76.48 per litre to ₹ 76.83 per litre, according to Indian Oil Corporation.