NEW DELHI :
On a day when crude oil rates spiked as much as 4% following US air strikes in Iraq, state-run fuel retailers increased the price of petrol by 10 paise and that of diesel by 15 paise a litre. Since fuel prices are directly dependent on international crude rates, it is likely that petrol and diesel prices will jump sharply in the next few days over increasing tensions in the oil-rich Middle East countries.
In New Delhi, a litre of petrol today costs ₹75.35 and diesel ₹68.25. In Mumbai, a litre of petrol costs ₹80.94 a litre and diesel ₹71.56 a litre. If you are in Bengaluru, you pay ₹77.87 for petrol and ₹70.52 for diesel. In Chennai, petrol costs ₹78.28 for petrol and ₹72.12 for diesel. Those in Hyderabad will have to pay ₹80.12 for petrol and ₹74.42 for diesel. In Gurgaon, you pay ₹74.72 for petrol and ₹67.20 for diesel.
Since December, the price gap between petrol and diesel has widened as petrol price increased only by a few paise but diesel rate went up by over ₹2 a litre. The difference is caused by a variation in international benchmark rates of the two auto fuels.
Brent crude futures jumped nearly $3 to hit a high of $69.16 a barrel, the highest since September 17 while the U.S. West Texas Intermediate (WTI) crude futures rose $1.76, or 2.9%, to $62.94 a barrel. Earlier, it touched $63.84 a barrel, highest since May 1.
After easing of tensions between the US and China and output cuts by OPEC and its allies, crude oil price rally was today supported by a US airstrike that killed a top Iranian general in Iraq.