The rise in Indian basket of imported crude oils pushed the petrol price in the national capital to Rs 71.56 a litre on Thursday, its highest level in over three years.
According to data from Indian OilBSE -1.72 % Corp, the previous high for petrol prices in the national capital was Rs 73.60 reported on July 1, 2014.
As per the daily revision of fuel prices, the petrol price was hiked by 17 paise a litre and diesel by 19 paise per litre, applicable from 6 a.m. on Thursday.
The daily revision allows any rise in international oil rates to be reflected in domestic prices with immediate effect rather than having a waiting period of 15 days as earlier. Read More…