Petrol prices rise for 13th straight day; almost Rs 78 in Delhi

The price rose to Rs 77.97 in Delhi from Rs 77.83 a litre on Friday, data from the Indian Oil Corp website showed.

Indo-Asian News Service
New Delhi, Publish Date: May 26 2018 6:19PM | Updated Date: May 26 2018 6:19PM
Petrol prices rise for 13th straight day; almost Rs 78 in DelhiRepresentational Image

Domestic petrol prices increased for the 13th day in a row on Saturday, with the fuel being sold at Rs 77.97 per litre in the national capital.

The price rose to Rs 77.97 in Delhi from Rs 77.83 a litre on Friday, data from the Indian Oil Corp website showed.

Along with Delhi, prices in Mumbai and Chennai have already reached record levels and are only reaching new highs every single day.

In Mumbai and Chennai, petrol was sold at Rs 85.78 and Rs 80.95 a litre, respectively, up from Rs 85.65 and Rs 80.80 per litre on Friday.

Further, in Kolkata, petrol price, currently inching towards a four year high, was sold at Rs 80.61, against 80.47 per litre on Friday.

This surge in fuel prices is largely attributed to the recent rise in crude oil prices and the high excise duty on the fuels in the country. 

The price Brent crude oil, however, has declined around $3 per barrel in the last two days, which raises hopes of easing fuel prices in the country. Brent crude is currently priced around $76 per barrel.

Prices of diesel, the key transportation fuel, which are already at record levels across the major cities rose to Rs 68.90, Rs 71.45, Rs 73.36 and Rs 72.74 a litre on Saturday in Delhi, Kolkata, Mumbai and Chennai respectively. 

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