Fuel price today: Petrol price hiked by 59 paise, diesel by 58 paise

Prices of petrol and diesel have been hiked for the sixth consecutive day today, taking the cumulative increase in rates of petrol and diesel to Rs 3.9 and Rs 4 respectively in the last seven days.

Today, petrol price has been hiked by 59 paise per litre and diesel by 58 paise.

Petrol prices for metro cities today are: Delhi Rs 75.16, Mumbai Rs 82.10, Chennai Rs 78.99 and Kolkata Rs 77.05.

Diesel prices for metro cities today are: Delhi Rs 73.39, Mumbai Rs 72.02, Chennai Rs 71.64 and Kolkata Rs 69.23.

This continuous hike in price of fuel in India comes at a time when global oil prices dropped on patchy demand concerns.

The consecutive six-day rise in petrol and diesel rates comes after a 12-week pause and experts say that fuel prices can rise further in the wake higher domestic levies on fuel. The weak rupee-dollar exchange rate has also resulted in higher prices for petrol and diesel.

The rise in fuel prices came after international oil prices rebounded sharply a few days ago.

However, global crude oil rates again fell two per cent on Thursday due to deepening worries about slow demand growth and higher oil stockpiles.