Delhi’s petrol price hiked up to Rs 70.53 per litre. As per the reports, the petrol prices hiked by 10-11 paise per litre and the diesel rates hiked by 17-20 paise per litre today in the four metropolitan cities such as Delhi, Mumbai, Kolkata and Chennai. The increased petrol and diesel prices are being effective from the 6 am of the 9th January 2018. According to the Indian Oil, the petrol is available in Delhi at Rs. 70.53 per litre, in Kolkata at Rs. 73.27 per litre, in Chennai at Rs. 73.12 per litre and in Mumbai at Rs. 78.42 per litre.
Whereas, the diesel is available at price Rs. 60.66 per litre in Delhi, Rs. 63.92 per litre in Kolkata, Rs. 64.48 per litre in Mumbai and 63.32 per litre in Chennai. In this month the petrol has raised by 55 to 59 paise per litre and the diesel price hiked by Rs. 1.02 to 1.21 paise per litre across four metropolitan cities. The main reason for the petrol and diesel price hike is the constant rise in the global oil prices. The oil marketing companies like Bharat Petroleum Corporation, Indian Oil Corporation and Hindustan Petroleum Corporation has constantly kept on revising the petrol and diesel rates based on global oil prices and foreign exchange rates.
According to the reports, in May 2015, the Global crude oil prices swept to the highest price led to the political concerns offset projections for some OPEC nations for higher US oil production. Since May, US benchmark rose 47 cents to $62.20 to reach its highest. During these days the crude oil stands at price 45$ and the government kept the diesel and petrol prices high. In the wake of this, the mix of crude become costlier purchased by India. Since August last year, consumers have to pay more for the oil as the price kept on changing across the cities like Delhi and Mumbai.