Mumbai witness a hike in petrol and diesel prices

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The fuel prices on Friday witnessed a marginal rise again in Mumbai. Petrol price in Mumbai witnessed an increase of 07 paise to be sold at Rs 76.18 per litre and diesel prices hiked by 20 paise higher at Rs 68.02 per litre.

On Thursday, a litre of petrol cost Rs. 76.11 per litre after an increase of 14 paise and diesel increased in price by 20 paise and was sold at Rs 67.82 per litre in Mumbai. The rise in prices of fuel comes amidst the revision of global crude oil prices owing to a possible stifling of supply in the near future.

Recently, Transport fuel rates were hiked for the fifth time this month and saw their steepest rise on Sunday, amid global crude oil rates continuing to climb handsomely following the implementation of output cuts by oil producers from January 1. State-run oil marketing companies increased petrol rates by 49-60 paise per litre on Sunday, while diesel prices were raised by 59-75 paise across the four major metros.

As per data from Indian Oil Corp, petrol price in the Delhi was increased to Rs 69.75 per litre on Sunday, while in Kolkata, Mumbai and Chennai, the fuel cost Rs 71.87, Rs 75.39 and Rs 72.40 per litre, respectively. Similarly, the price of diesel went up on Sunday in the national capital to Rs 63.69 per litre. In Kolkata, Mumbai and Chennai, diesel sold at Rs 65.46, Rs 66.66 and Rs 67.26 a litre, respectively.

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