Fuel prices rise after 2 days of pause due to surge in global crude rates

NEW DELHI: Fuel prices jumped on Wednesday, to hit fresh all-time highs following a surge in global crude oil rates. In Delhi, petrol and diesel rates increased by 35 paise to cost ₹ 106.19 and ₹ 94.92 per litre respectively.

In Mumbai, a litre of petrol is being retailed at ₹ 112.11, and diesel is sold at ₹ 102.89 per litre.

Here are the petrol and diesel price across the metro cities:

Delhi-106.19 94.92

Mumbai-112.11 102.89

Chennai- 103.31 99.26

Kolkata- 106.78 98.03

Source: Indian Oil

State-run oil refiners such as Indian Oil, Bharat Petroleum, and Hindustan Petroleum revise the fuel rates on a daily basis, by taking into account the crude oil prices in the international markets, and the rupee-dollar exchange rates. Any changes in petrol and diesel prices are implemented with effect from 6 am every day.

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The rising fuel prices in the country are not going to come down immediately. The central government is in talks with several oil-exporting countries on the issue of supply and demand of oils but there is no possibility of immediate relief in prices.

The Ministry of Petroleum and Natural Gas recently raised concerns about the matter of pricing, supply and demand of oils to the major oil-producing countries.

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