New Delhi: On Tuesday (5 February), Petrol and diesel prices rose again with a hike of 7 paise in petrol prices while diesel was raised by 10-11 paise across major cities of the country. In Delhi, petrol price peaked to to Rs 72.24 a litre as against Rs 72.17 on Monday while diesel price rose to Rs 67.64 per litre as compared to Rs 67.54 on Monday.

While talking about all metro cities, Retail petrol price in Kolkata was increased by 7 paise to Rs 74.33  from Rs 74.26 recorded on Monday. Diesel prices too have hiked by 10 paise from yesterday’s rate price of Rs 69.33 a litre. Similarly, in Mumbai, petrol is retailing at Rs 77.87, 7 paise higher than Monday’s rate of Rs 70.80 per litre while diesel price is set at Rs 70.86, 10 paise more than yesterday's price of Rs 70.76 a litre, according to data from Indian Oil Corporation website. Citizens in Chennai have to shell out Rs 75.02 for a litre of petrol after a 7 paise hike over Monday’s rate. A litre of diesel costs Rs 71.49, 11 paise costlier than yesterday’s rate of Rs 71.38.

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It is worth noting that the pump price of petrol and diesel in the country is dependent on the global crude prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements. In the international oil market, crude prices dropped on Tuesday as markets factor in modest chances for growth in fuel demand. International Brent crude futures were at trading USD 65.36 per barrel, down 31 cents, or 0.5 per cent, from their last close.

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