NEW DELHI : Although state-run fuel retailers chose not to increase the price of petrol and diesel today, fuel rates are most likely to increase again from tomorrow as Brent crude oil rates jumped above $70 a barrel following Iran’s missile attack on US forces based in Iraq.
In New Delhi, a litre of petrol today costs ₹75.74 and diesel ₹68.79. In Mumbai, a litre of petrol costs ₹81.33 a litre and diesel ₹72.14 a litre. If you are in Bengaluru, you pay ₹78.28 for petrol and ₹71.08 for diesel. In Chennai, petrol costs ₹78.69 for petrol and ₹72.69 for diesel. Those in Hyderabad will have to pay ₹80.54 for petrol and ₹75 for diesel. In Gurgaon, you pay ₹75.03 for petrol and ₹67.66 for diesel.
Following increasing tensions in the Middle East, output cuts by OPEC and its allies and trade truce between US and China, crude prices have been soaring in the last few days. Fuel retailers, which take into account an average of 15 days of international benchmark rates, had increased petrol, diesel prices for six consecutive days till yesterday. After today’s spike in crude oil rates, a subsequent increase in petrol and diesel prices is also likely.
Brent crude rose as much as $3.48 to $71.75 a barrel before trading up 1.4% at $69.20 on the ICE Futures Europe exchange as of 11:24 a.m. in Singapore. West Texas Intermediate rose as much as $2.95, or 4.7%, to $65.65 on the New York Mercantile Exchange, later retreating to $63.47 a barrel.