Petrol prices rise for 13th straight day; almost Rs 86 in Mumbai

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 Rs 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 past two days, which raises hopes of easing fuel prices. Brent crude is 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.

Rajasthan minister minister of social justice and empowerment Arun Chaturvedi on Saturday said that the Union minister for petroleum and natural gas will hold a meeting to find a solution on the rise in fuel prices.

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