Petrol and diesel prices were raised for third day in a row on Saturday as crude oil prices surged internationally after the US killing of Iran's top military commander in an air strike in Iraq ratcheted up tensions between Washington and Tehran. Traders were spooked after the death of Major General Qassem Soleimani, head of the elite Quds Force who was also one of Iran's most influential figures, and by Iranian Supreme Leader Ayatollah Ali Khamenei's vow of revenge. Brent crude futures leaping as much 4.5 per cent to $69.20 a barrel, the highest level since Saudi crude facilities were attacked in September.
Petrol prices were raised by 10 paise in Delhi, Mumbai and Kolkata and by 11 paise in Chennai. While diesel prices were increased by 15 paise in Delhi and Kolkata and by 16 paise in Chennai and Mumbai, according to information on Indian Oil's website https://www.iocl.com.
In last three days, petrol prices have been increased by 15-21 paise and diesel prices have climbed between 23 paise and 29 paise.
Here are the latest prices of petrol and diesel in four metro cities:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 75.45 | 68.4 |
| Mumbai | 81.04 | 71.72 |
| Kolkata | 78.04 | 70.76 |
| Chennai | 78.39 | 72.28 |
| Source: Indian Oil | ||
Petrol and diesel prices are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis, and any revision in the fuel rates is implemented at fuel stations with effect from 6 am. The government allowed revision of fuel rates on a daily basis since mid-June 2017 to instantly reflect the changes in costs.
The domestic fuel prices are broadly determined by the rupee-dollar exchange rate and international crude oil prices.
(With inputs from Reuters)
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
