Petrol rates up by 21 paise, now costs Rs 91.34 in Mumbai, Rs 84 in Delhi


After remaining constant for a day, petrol and diesel prices continued their upward march on Thursday. The latest hike takes fuel prices to a new unprecedented level.

Petrol prices are up by around 15 paise across major cities, with the fuel now being sold at Rs 91.20 per litre in Mumbai.

In Delhi, Kolkata and Chennai, petrol is priced at Rs 84, Rs 85.80 and Rs 87.33 per litre respectively.

Diesel prices are up by around 21 paise in Delhi, Mumbai, Kolkata and Chennai.

The key transportation fuel is being retailed at Rs 75.45, Rs 80.10, Rs 77.30 and Rs 79.79 per litre respectively.

Fuel prices in India largely depend on international oil prices. As per India's pricing mechanism, the domestic fuel prices depend upon the international fuel prices on a 15-day average and the value of the Indian rupee.

Brent crude rose nearly 2 per cent after hitting a four-year high on Wednesday as the market focused on upcoming US sanctions on Iran while shrugging off the year's largest weekly build in US crude stockpiles and reports of higher Saudi Arabian and Russian production.

Earlier in the session, crude had been pushed lower as Saudi Energy Minister Khalid al-Falih said the kingdom had raised output to 10.7 million barrels per day in October and would pump more in November. Read Complete Article

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