Fuel prices continue to surge amid tension in Middle East

New Delhi (IANS) The petrol and diesel prices continued to surge on Saturday as the price of petrol rose by 10-11 paise and that of diesel by 15-16 paise across all major cities.

According to the Indian Oil website, the petrol costs Rs 75.45 a litre in Delhi, Rs 81.04 per litre in Mumbai, Rs 78.04 a litre in Kolkata and Rs 78.39 a litre in Chennai after the revised rates were implemented on Saturday morning.

Similarly, diesel prices also saw an increase across all major cities.

Diesel now costs Rs 68.40 a litre in Delhi, Rs 71.72 a litre in Mumbai, Rs 70.76 per litre in Kolkata and Rs 72.28 a litre in Chennai after the increase on Saturday morning.

The oil prices jumped by $3 a barrel on Friday after a US airstrike killed a top Iranian general Qassem Soleimani, escalating major tension in the Middle East.

The retail prices of petrol and diesel are dependent on the global crude oil prices and the rupee-US dollar exchange rate as India imports 80 per cent of its crude requirements.

Domestic petrol and diesel prices are reviewed by oil marketing companies on a daily basis. Price revisions are implemented at the fuel stations with effect from 6 a.m.

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