After two consecutive days when petrol prices remain unchanged, the price of both petrol and diesel was hiked by 5 paise per litre.
According to the IndianOil website, Retail prices of the two automobile fuels are revised daily, but vary across the country due to differences in levies imposed by states. Petrol is priced at 74.81 rupees per ltr and diesel at 65.78 rupees in Delhi. In Mumbai, the price of petrol today is 80.46 rupees per ltr and that of diesel is 69.00 rupees.
Crude oil prices had risen earlier this week on expectations that China and the United States, the world's two biggest crude users, would soon sign a preliminary agreement, putting an end to their 16-month trade dispute. During the day, oil prices fell, extending losses from the previous session after official data showed US crude and gasoline stocks rose against expectations and production hit a record.