New Delhi: Continuing the hike in the prices since 7 November, Indian Oil Corporation (IOC) raised the petrol prices by 10 paise a litre on Tuesday. Diesel prices were reduced by 6 paise a litre.

In Mumbai, petrol now costs 78.97 per litre, while diesel is being sold for 69.01 a litre.

In Delhi, petrol is being retailed at 73.30 a litre, while diesel is going at 65.79 a litre at retail outlets, much cheaper than Mumbai.

In Chennai and Kolkata, petrol will cost 76.18 and 76 a litre, respectively, while diesel is costing 69.54 and 68.20 a litre respectively.

In the past week, fuel prices have gone up by nearly a rupee.

The rupee-dollar exchange rate and change in the price of crude oil in the international market directly influence the price of crude oil products in the domestic market.

Globally, oil prices edged lower on Monday on continuing global concerns over economic growth in light of the ongoing trade war between the US and China.

The 16-month trade war between the world's two biggest economies has slowed economic growth around the world and prompted analysts to lower forecasts for oil demand, raising concerns that a supply glut could develop in 2020.

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