Petrol and diesel prices were increased for fourth day in a row on Sunday as oil prices jumped to the highest level in more than three months after the United States killed a top Iranian military commander in Iraq, sparking fears that escalating conflict in the region could disrupt global oil supplies. Petrol prices were increased by 9 paise across the four metro cities - Delhi, Mumbai, Chennai and Kolkata. While diesel prices were increased by 11 paise in Chennai, Kolkata and Delhi and by 12 paise in Mumbai, according to Indian Oil's website https://www.iocl.com.
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.
Meanwhile, President Donald Trump said on Saturday the United States has targeted 52 Iranian sites that it would strike if Iran attacks Americans or US assets in response to a US drone strike that killed Iranian military commander Qassem Soleimani in Iraq.
Petrol, Diesel prices: Here are latest petrol and diesel prices across metro cities:
| City | Petrol | Diesel |
|---|---|---|
| Delhi | 75.54 | 68.51 |
| Mumbai | 81.13 | 71.84 |
| Kolkata | 78.13 | 70.87 |
| Chennai | 78.48 | 72.39 |
| Source: Indian Oil | ||
In the last four days petrol prices have been increased in the range of 34-40 paise and diesel prices have been raised in the range of 49-55 paise across the metro cities by 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)
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