Oil marketing companies on Tuesday raised fuel prices for a third consecutive day. Petrol prices are hiked by 54 paise, while diesel by 58 paise per litre in Delhi. In the last three days, petrol price has been hiked by Rs 1.74 per litre while diesel by Rs 1.78 per litre. The revised price in Delhi for petrol is now Rs 73 per litre and diesel at Rs 71.17 per litre.

#JustIn | Petrol & diesel prices hiked for the third consecutive day pic.twitter.com/fsTfiQeX7k

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The fuel prices were hiked on Monday to Rs 72.46 per litre from Rs 71.86 on Sunday, while diesel rates were increased to Rs 70.59 a litre from Rs 69.99.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis. However, PSUs had since March 16 kept petrol and diesel prices on hold, ostensibly on account of extreme volatility in the international oil markets.

The government on May 6 again raised excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel.