State – owned oil marketing companies hiked the petrol prices on Monday by 70 paise per litre. The new rates will be effective from Monday midnight. With this, petrol in the national capital will cost 68 rupees 48 paise per litre. However in Kolkata, the consumer have to pay 73 rupees 61 paise per litre while in Mumbai it will cost to 74 rupees 23 paise and in Chennai , the new rate will be 73 rupees 16 paise per litre.

According to a release issued by the Indian Oil Corporation Limited, the increase in the rate was necessitated due to increasing international oil prices.