INSUBCONTINENT EXCLUSIVE:
While the magnitude of hikes was in the range of 14-16 paise per litre in case of petrol in Delhi, Kolkata, Mumbai and Chennai, diesel
prices were lifted by 10-11 paise per litre, according to data from Indian Oil Corporation
Petrol and diesel are deregulated in the country
State-run oil marketing companies such as Indian Oil review the fuel prices on a daily basis, and effect any revisions at fuel pumps with
Mumbai and Rs 79.01 per litre in Chennai
These hikes come after a gap of one month, when crude oil rates and weakness in the rupee had led to the prices touching all-time highs in
some cities.Domestic petrol and diesel prices are determined by the price of global crude oil and the exchange rate of the rupee against the
US dollar, among other factors
Brent crude oil price - the global benchmark for crude oil - settled at $77.11 per barrel on Friday
The rupee gained 8 paise to end at 68.87 against the US currency on that day.(With agency inputs)
