Oct 04, 2018 09:16 AM IST | Economy

Fuel prices remain stuck at 4-year highs, petrol at Rs 91.20/ litre in Mumbai

In Mumbai, the petrol and diesel prices retained their all-time high of Rs 91.20 per litre and Rs 79.89 per litre.

In Delhi NCR, Chennai and Kolkata, the petrol prices were at Rs 83.85 per litre, Rs 87.18 per litre and Rs 85.65 per litre, respectively.

Diesel prices in the three metros rose to Rs 75.25 a litre, Rs 79.57 per litre and Rs 77.10 per litre, respectively.

Fuel prices remain stuck at 4-year highs, petrol at Rs 91.20/ litre in Mumbai

The fuel prices stayed near all-time highs on Wednesday after gaining for six straight days in four metro cities - Mumbai, New Delhi, Chennai and Kolkata.

In Mumbai, the petrol and diesel prices retained their all-time high of Rs 91.20 per litre and Rs 79.89 per litre.

In Delhi NCR, Chennai and Kolkata, the petrol prices were at Rs 83.85 per litre, Rs 87.18 per litre and Rs 85.65 per litre, respectively. Diesel prices in the three metros rose to Rs 75.25 a litre, Rs 79.57 per litre and Rs 77.10 per litre, respectively.

Despite Brent oil prices falling on Wednesday, the domestic fuel prices remained near four-year highs reached earlier this week ahead of US sanctions against Iran's oil exports that kick in next month.

Brent crude oil futures were trading at $84.73 per barrel at 0103 GMT, down 7 cents from their last close. US West Texas Intermediate (WTI) crude futures were down 10 cents at $75.13 a barrel.

Since mid-August, the petrol price has risen by Rs 6.59 a litre and diesel by Rs 6.37 - the most in any six weeks after the daily price revision was introduced in mid-June last year.

Various factors including rupee depreciation, high excise duty and rise in Brent crude oil rates have been blamed for the soaring domestic fuel prices.

(With inputs from Reuters)

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Published Date: Oct 3rd, 2018 08:30 AM | Updated Date: Oct 04, 2018 09:16 AM IST