Diesel price hiked by up to 23p today; Chennai, Mumbai rates over Rs 70 per litre; Kolkata may soon hit same mark

Diesel price in India today: It's a crazy world for Indian fuel prices, as the state-owned OMCs have continued to hike diesel prices to record highs for third consecutive day in various state capitals in India. Today, diesel prices were increased in the range of 21 paisa to 23 paisa per litre. Meanwhile, international crude price  settled a shade firmer after retreating from multi-year highs hit early in the day on Tuesday, supported by concerns that U.S. sanctions on Iran are likely to restrict crude exports from one of the biggest producers in the Middle East.

Rising crude oil, coupled with Indian government ruling out excise duty cuts and various states’ being reluctant in reducing the VAT on fuel prices, has left limited room for OMC to make any relaxation in the price of the product, especially diesel, which is currently at a record high. 
 
Diesel price in New Delhi: Diesel price in the national capital over Rs 66 per litre-mark for the first time, as the product was available at Rs 66.57 up by 21 paisa compared to previous price of Rs 65.36 per litre. 
 
Diesel price in Kolkata: Diesel price here was valued at Rs 69.11 per litre higher by 21 paisa as against previous price of Rs 68.90 per litre. Considering the limited room for reduction in diesel prices, Kolkata has become the third metro city to touch Rs 69-level.
 
Diesel price in Mumbai: Shockingly, the diesel price in Mumbai was hiked most among metro cities, as the price has reached to Rs 70.88 per litre-mark, the highest among metro cities. It was up by 22 paisa compared to previous day price of Rs 70.66 per litre. 
 
Diesel price in Chennai: Like Mumbai, similar hike was also made in Chennai. The price of the product stood at Rs 70.25 per litre up by 23 paisa compared to Rs 70.02 per litre of previous day. You are now paying Rs 70 per litre in this city. 
 
Diesel prices in other state capitals: The product in Bangalore was available at Rs 67.71 per litre, Bhopal at Rs 70.06 per litre, Bhubaneswar at Rs 71.35 per litre, Chandigarh at Rs  64.64 per litre, Dehradun at Rs  66.89 per litre, Gandhinagar at Rs 71.54 per litre, Hyderabad at Rs  72.36 per litre, Jaipur at Rs  70.93 per litre, Lucknow at Rs 66.71 per litre, Patna at Rs 71.22 per litre, Raipur at Rs 71.89 per litre and Srinagar at Rs 69.96 per litre.
 
Moreover,  Brent crude oil settled at $78.43 a barrel, up 20 cents, or 0.3 percent, after reaching an intraday peak of $79.47 a barrel, up $1.24 and its highest since November 2014.  U.S. light crude closed 35 cents, or 0.5 percent, higher at $71.31 a barrel, also not far off the day`s peak at $71.92, its highest since November 2014.