Petrol and diesel prices are currently reviewed on a daily basis, and any revisions implemented at 6 am

Petrol and diesel prices were hiked on Thursday after a pause the previous day. With effect from 6 am on September 26, the price of petrol was Rs 74.19 per litre in Delhi and Rs 79.85 per litre in Mumbai, according to notifications from Indian Oil Corporation. The rates of diesel were Rs 67.14 per litre in Delhi and Rs 70.44 per litre in Mumbai. Oil marketing companies, including state-run Indian Oil, had kept the domestic fuel prices unchanged on Wednesday Thursday's prices of petrol in marked a hike of 6 paise per litre in each of the four metros. The rates of diesel were up by 7 paise per litre compared with Wednesday's rates. (Also read: How to find out latest petrol and diesel prices through SMS)

In Kolkata, the prices of petrol and diesel were Rs 76.88 per litre and Rs 69.56 per litre respectively. In Chennai, the rate of petrol was Rs 77.12 per litre and that of diesel stood at Rs 70.98 per litre.

Currently, domestic prices of petrol and diesel are reviewed by oil marketing companies on a daily basis. Any revisions to bring the domestic rates in line with crude oil prices overseas by taking into account factors such as the rupee-dollar foreign exchange rate are effected at the fuel stations at 6 am.

The rupee edged higher to move in a range of 70.85-71.01 against the dollar on Thursday, a after it settled at 71.04 against the greenback.

Crude oil prices fell more than 1 per cent on Wednesday, declining for a second consecutive day, after US stockpiles unexpectedly rose and as Saudi Arabia maintained a faster-than-expected recovery of its oil production.

Brent crude futures - the international benchmark for crude oil - settled at $62.39 a barrel, down 1.1 per cent compared with the previous close.

The rupee has dropped 1.8 per cent against the dollar so far this year.