Fuel prices up again as Brent tops $70 a barrel
New Delhi, Jan 6 (IANS) : The domestic fuel prices continued to go northward as the price of petrol went up by 15-16 paise and that of diesel by 17-18 paise across all major cities on Monday.According to information on the Indian Oil Corporation website, petrol now costs Rs 75.69 a litre in Delhi, Rs 78.28 a litre in Kolkata, Rs 81.28 a litre in Mumbai and Rs 78.64 a litre in Chennai, after the increase. Similarly, diesel prices cost Rs 68.68 a litre in Delhi, Rs 72.02 a litre in Mumbai, Rs 71.04 a litre in Kolkata and Rs 72.58 in Chennai.
The increase in fuel prices came after Brent crude oil rates surged more than 2 per cent to cross the $70 a barrel mark amid rising tensions in the Middle East following the assassination of Iranian commander Qassem Soleimani and President Trump’s threat to impose sanctions on Iraq. Petrol prices have been rising since December 26 while that of diesel since November 29. Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Price revisions are implemented at the fuel stations with effect from 6 a.m.