NEW DELHI/MUMBAI: The prices of petrol and diesel went up for the 12th consecutive day on Thursday.
In the national capital, petrol was selling at Rs 79.51 per litre, up from Rs 79.31 on Wednesday. In Mumbai, the petrol price stood at Rs 86.91 per litre.
Diesel rates also went with up prices standing at Rs.71.55 per litre in Delhi and Rs 75.96 per litre in Mumbai.
Fuel prices have been witnessing a surge due to rise in crude oil prices and high excise duty in the country. Brent crude oil is currently priced at over $78 per barrel.
The recent slump in the rupee has also lifted the import cost of crude oil, subsequently affecting the fuel prices.
Prices of non-branded petrol in metro-cities
Prices of non-branded diesel in metro-cities
(Source: Indian Oil) Prices may vary from outlet to outlet within a city
Domestic credit rating agency Icra said in a report on Monday that global oil prices have risen by about 10 per cent over the past two weeks on declining inventories and faster-than-anticipated decline in Iranian exports as the countdown to the enforcement of US sanctions begins.
"While China and European Union intend to continue imports from Iran, banking channels and re-insurers are increasingly shying away, leading to sharp cut in purchases. The dual impact of rising oil prices and depreciating rupee does not auger well for PSU (public sector unit) oil and gas companies as it will increase their regulatory risks," it said.