Fuel prices rise for second straight day

Petrol and diesel prices on Wednesday were hiked by 80 paise a litre each for the second straight day since the ending of an over four-and-half month hiatus.

Petrol in Delhi will now cost Rs 97.01 per litre as against Rs 96.21 previously, while the diesel rate has rose from Rs 87.47 per litre to Rs 88.27, as per a price notification of state fuel retailers. In Mumbai, petrol price has been increased by 85 paise to Rs 111.67, while prices in Chennai went up by 75 paise to Rs 102.91. In Kolkata, rates increased to Rs 106.34 from Rs 105.51. The diesel price hike in Mumbai was 85 paise per litre. Rates differ from state to state depending on the incidence of local taxes.

Prices of the two auto fuels differ state-to-state depending on the incidence of local taxes. On Tuesday, a record 137-day hiatus in rate revision ended, with an 80 paise per litre increase in rates.

Meanwhile, as per a Reuters report, oil prices rose about 5 per cent to over $121 a barrel on Wednesday as disruptions to Russian and Kazakh crude exports via the Caspian Pipeline Consortium pipeline added to worries over tight global supplies. As of 1755 GMT, Brent crude rose $4.83, or 4.2 per cent, to $120.3 a barrel, and US West Texas Intermediate crude rose $4.39, or 4 per cent, to $113.70.  WITH REUTERS & PTI

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