New Delhi After three consecutive price cuts in petrol since the first week of June, oil marketing companies IOC, HPCL and BPCL on Monday raised the price by 70-89 paise a litre citing increase in global oil prices and movement in the rupee-dollar exchange rate. With this price revision, petrol price in New Delhi will cost R68.48 per litre, as against R67.78 a litre earlier. Petrol price in Mumbai has been increased by 88 paise to R74.23 per litre while in Kolkata, the fuel will cost R73.61 per litre. In Chennai, the price has been raised by 88 paise to R73.16 per litre. ‘‘During the current financial year, Indian Oil Corporation has already accumulated losses of R1,053 crore on sale of petrol during the first two months due to high international oil prices, deterioration in USD-INR exchange rate and the inability of OMCs to revise petrol prices to the desired level,” said an IOC statement. Oil companies are still facing losses on regulated fuel products. The current under-recovery on diesel is R10.01 per litre, for kerosene, it is R27.20 per litre and for domestic cooking gas, the under-recovery is R319 per cylinder. The total expected under-recoveries for the year 2012-13 are around R1,60,000 crore.