The cost of petrol increased by 11 paise in Mumbai from Wednesday's level.Petrol prices climbed marginally on Thursday across three of the four metro cities in the country after declining for nearly two months.

In Delhi, petrol was sold at Rs 70.29 per litre on Thursday, up from Rs 70.20 recorded on Wednesday, according to Indian Oil Corporation (IOC).

The cost of petrol increased by 11 paise and 13 paise in Mumbai and Chennai respectively from Wednesday's levels, to Rs 75.91 and Rs 72.94 per litre.

However, in Kolkata, petrol price declined by 90 paise to Rs 72.38, from Rs 73.28 recorded on Wednesday.1.  The increase in petrol prices come after the rate of the fuel declined over 15 per cent in the last two months from the highs recorded in mid-October. 2.

However, prices of diesel were unchanged for the second consecutive day on Thursday in three out of the four metro cities.

In Delhi, Mumbai and Chennai, diesel was sold at Rs 64.66, Rs 67.66 and Rs 68.26, respectively.

Meanwhile, in Kolkata the price of diesel fell by Re 1 to Rs 66.40 per litre.3.

Diesel prices too have declined nearly 15 per cent from the record high levels reached in mid-October.4.

Globally, stability can be seen in crude oil prices as the Organization of Petroleum Exporting Countries (OPEC) and Russia last week decided to reduce supply by 1.2 million barrels per day after the continuous fall in oil prices for around two months.

On Thursday, the Brent crude oil futures were around $60.35 per barrel.5.

As per the daily dynamic pricing regime, domestic fuel prices depend on international fuel prices on a 15-day average, besides the value of the rupee.

This is because a large proportion of country's requirement is met through imports.(With inputs from agencies)