New Delhi: On Friday, for the second consecutive day state-controlled oil marketing companies increased retail fuel prices. After today's rate change, petrol became costlier by 7-8 paise a litre while diesel prices were hiked by 6-7 paise per litre across major cities of the country. In Delhi, petrol price climbed to Rs 70.46 a litre as against Rs 70.39 on Thursday while diesel price jumped to Rs 65.73 per litre as compared to Rs 65.67 on Thursday.

It may be noted that fuel prices in Delhi are the cheapest among all metros and most state capitals due to lower taxes. In Kolkata, petrol is retailing at Rs 72.57, 7 paise higher than yesterday’s rate while diesel costs Rs 67.51 a litre, 6 paise higher than yesterday's price. Citizens in Mumbai have to pay Rs 76.10 for a litre of petrol while diesel is sold at Rs 68.83 per litre. People in Chennai have to shell out Rs 76.14 for a litre of petrol following a 8 paise raise over Thursday’s rate. A litre of diesel costs Rs 69.44, 7 increase than yesterday's rate of Rs 69.37.

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However, petrol in Noida costs Rs 70.35 per litre and Rs 71.31 in Gurugram, 5 paise increase in rates compared to yesterday’s price. Diesel is priced at Rs 64.94 per litre in Noida and Rs 65.47 in Gurugram.

Retail fuel prices in India depend on both global oil price and the rupee-dollar exchange rate. In the international oil market, crude prices hit fresh highs amid US curbs against Venezuela and Iran and supply cut by the OPEC, International Brent crude oil futures in the last session went above USD 65 per barrel, was up 0.5 per cent from the last close.

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