Domestic petrol and diesel rates are adjusted on the basis of crude oil and the foreign exchange prices

Domestic petrol and diesel prices were hiked on Thursday, marking a third straight day of upwards revision in fuel rates. The price of petrol was increased by 29 paise per litre each in Delhi and Mumbai, while the diesel rate was raised by 19 paise per litre in Delhi and 20 paise per litre in Mumbai compared to the previous day's prices, data from the Indian Oil Corporation showed. Oil marketing companies such as state-run Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum currently review the fuel prices on a daily basis, and any revisions are implemented at the fuel stations with effect from 6 am. (Also read: How To Find Out Today's Petrol, Diesel Prices Through SMS)

In Delhi, the prices of petrol and diesel stood at Rs 72.71 per litre and Rs 66.01 per litre respectively on Thursday, as against Rs 72.42 per litre and Rs 65.82 per litre the previous day, according to notifications from Indian Oil Corporation, the country's largest fuel retailer. Petrol and diesel rates in Mumbai were revised to Rs 78.39 per litre and Rs 69.24 per litre respectively.

City Petrol price (in rupees per litre) Diesel price (in rupees per litre) September 19 September 18 September 19 September 18 Delhi 72.71 72.42 66.01 65.82 Kolkata 75.43 75.14 68.42 68.23 Mumbai 78.39 78.1 69.24 69.04 Chennai 75.56 75.26 69.77 69.57 (Source: Indian Oil Corporation)

In Kolkata, the price of petrol was at Rs 75.43 a litre and that of diesel was Rs 68.42 per litre. In Chennai, the prices of petrol and diesel were at Rs 75.56 a litre and Rs 69.77 a litre respectively.

The domestic fuel prices are adjusted on the basis of international crude oil and the foreign exchange rates.

Crude oil prices retreated about 2 per cent on Wednesday, extending the previous day's declines after Saudi Arabia said it would quickly restore full production following last weekend's attacks on its facilities. Brent crude oil futures - the global benchmark for crude oil - ended the session down 95 cents, or 1.5 per cent, at $63.60 a barrel.

The rupee opened lower at 71.34 against the US dollar on Thursday, compared to its previous close of 71.23. At 10:00 am, it was flat at 71.23 against the greenback.