Petrol prices increase after 2 months

After declining for nearly two months, petrol prices rose marginally on Thursday across three of the four metro cities in the country.

The increase comes after the prices of the fuel declined over 15 per cent in the last two months from the highs recorded in mid-October.

In Delhi, petrol was priced at Rs 70.29 per litre, up from Rs 70.20 recorded on Wednesday, according to data on the Indian Oil Corp's website.

The cost of petrol increased by 11 paise and 13 paise in Mumbai and Chennai respectively from Wednesday's levels, to Rs 75.91 and Rs 72.94 per litre.

However, in Kolkata, petrol price dropped 90 paise to Rs 72.38, from Rs 73.28 recorded on Wednesday.

Prices of diesel were unchanged for the second consecutive day in three out of the four metro cities.

In Delhi, Mumbai and Chennai, diesel was sold at unchanged prices of Rs 64.66, Rs 67.66 and Rs 68.26, respectively. Meanwhile, in Kolkata the price of diesel fell by Re 1 to Rs 66.40 per litre.

Diesel prices too have declined nearly 15 per cent from the record high levels reached in mid-October.

The rate hike comes amidst stability in crude oil prices as the Organization of Petroleum Exporting Countries (OPEC) and Russia last week decided to reduce supply by 1.2 million barrels per day after the continuous fall in oil prices for around two months.

On Thursday, the Brent crude oil futures were around $60.35 per barrel.

--IANS

rrb/mag/bg