Petrol, diesel prices hiked by 35 paise per litre after 7-day pause: Check fuel prices in metro cities on February 4, 2021

New Delhi: Petrol and diesel prices were both hiked by 35 paise per litre on Thursday after rates were kept unchanged for the seven straight days.

Petrol price in Delhi is at Rs 86.65 per litre, and diesel is at Rs 76.83 per litre while in Mumbai, petrol prices are at Rs 92.86 per litre and diesel prices are at Rs 83.30 per litre.

Fuel prices hit new record highs in the National Capital last Wednesday (January 28) after oil marketing hiked rates further. State-owned oil marketing companies hiked petrol prices in Delhi by 25 paise to 86.30 per litre from Rs 86.05 per litre while diesel prices too were hiked by 25 paise to Rs 76.48 per litre from Rs 76.23 per litre. In Mumbai, diesel prices were hiked to Rs 92.86 per litre, thus witnessing new record high and petrol prices stood at Rs 83.30 per litre on Wednesday.

Here is looking at the price difference of diesel and petrol in four metro cities on February 4, 2021.

City	Petrol	Diesel
Delhi	86.65	76.83
Mumbai	93.20	83.67
Chennai	89.13	82.04
Kolkata	88.01	80.41

State-owned fuel retailers -- Indian Oil Corporation Ltd (IOC), Bharat Petroleum Corporation Ltd (BPCL) and Hindustan Petroleum Corporation Ltd (HPCL) -- had on January 6, resumed daily price revision after nearly a month-long hiatus. Since then, rates have gone up by Rs 2.34 a litre on petrol and Rs 2.36 in case of diesel.

Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates.

Oil markets continued to advance as inventories hit their lowest level since March. U.S. crude recently rose 0.45% to $55.94 per barrel and Brent was at $58.67, up 2.11% on the day, a Reuters report said.

With Agency  Inputs