HomeEnergy NewsFuel prices rise across major cities, petrol at Rs 76.77/litre in Mumbai

Fuel prices rise across major cities, petrol at Rs 76.77/litre in Mumbai

Petrol prices rose for the fifth consecutive day while diesel advanced for a 12th straight session on Monday. Petrol and diesel rates were at Rs 76.77 a litre and Rs 68.81 per litre, respectively in Mumbai.

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By CNBC-TV18 January 21, 2019, 8:15:44 AM IST (Published)

Fuel prices rise across major cities, petrol at Rs 76.77/litre in Mumbai
Petrol prices rose for the fifth consecutive day while diesel advanced for a 12th straight session on Monday. Petrol and diesel rates were at 

Rs 76.77 a litre and Rs 68.81 per litre, respectively in Mumbai.


According to the Indian Oil Corp data, petrol prices in New Delhi, Kolkata and Chennai were at Rs 71.14 per litre, Rs 73.23 per litre and Rs 73.85 per litre, respectively, while diesel stood at Rs 65.71 a litre in New Delhi, Rs 67.49 a litre in Kolkata and Rs 69.41 a litre in Chennai.

Transport fuel rates were hiked sharply on Sunday as global crude oil rates continued to climb handsomely following the implementation of output cuts by global oil producers from January 1.

State-run oil marketing companies increased petrol rates by 23 paise per litre while diesel prices went up by 29-31 paise across the four major metros, making it among the sharpest hikes ever since rates had been rising this month following a prolonged period of fall.


Petrol and diesel prices have increased by more than Rs 2 per litre each in January.

Following the implementation of production cuts by the Organisation of Petroleum Exporting Countries (OPEC) and non-OPEC producers, global crude rates have been hardening and the UK Brent crude closed over the weekend at over $62 a barrel after having fallen below $50 last month.

On Monday, international Brent crude oil futures were at $62.30 per barrel at 0022 GMT, down 40 cents, or 0.6 percent, from their last close.

As per the country's dynamic pricing mechanism, the domestic fuel prices depend upon international fuel prices on a 15-day average and the value of the rupee.

Retail pump price is calculated after adding central excise duty, dealers commission and value-added tax (VAT) to the base price.

(With inputs from agencies)