Fuel rates are rising because of a surge in crude oil prices globally, curbs on oil production and a high demand.
Petrol prices continued to rise in all four metros on Wednesday. On Wednesday, petrol cost Rs 72.43 a litre in New Delhi, Rs 75.13 a litre in Kolkata, Rs 80.30 in Mumbai and Rs 75.12 in Chennai – all at three-year highs, data from Indian Oil showed.
The last time petrol was this expensive in all four metros was between August and October 2014.
Diesel prices also shot up on Wednesday across the country.
In Delhi, diesel was sold at Rs 63.38 a litre. In Kolkata, it cost Rs 66.04, in Mumbai Rs 67.50 and in Chennai, Rs 66.84 a litre. The rise in the price of diesel – used mainly by the transport sector to move food products, among other goods – is likely to lead to inflation.
Fuel prices are rising because of a surge in crude oil prices globally, curbs on production by the Organization of the Petroleum Exporting Countries and high demand, IANS reported.
On Wednesday, the price of the Brent crude oil hovered around $70 (Rs 4,454) a barrel.