Petrol hits`Rs.100/litre in Delhi

PETROL price on Wednesday crossed the Rs 100-a-litre mark in Delhi after fuel prices were hiked again on the back of firming international oil rates. Petrol price was increased by 35 paise per litre, while diesel rates were increased by 17 paise a litre, according to a price notification from state-owned fuel retailers.

In Delhi, the price of petrol soared to Rs 100.21 per litre and diesel rates rose to Rs 89.53 a litre. The national capital is the last of the metro cities to see petrol rising above the Rs 100-a-litre mark. Mumbai, Chennai, Hyderabad, Bengaluru and Pune already have prices above that mark. Kolkata also saw petrol prices climbing over Rs 100 per litre on Wednesday. The fuel now costs Rs 100.23 a litre in the city.

Brent crude oil had surged to $78 per barrel as OPEC+ proposal for a monthly output hike of 4,00,000 barrels per day from next month has been put on hold and lifting of US sanctions on Iran's exports no longer appears imminent.

OPEC+ led by Saudi Arabia linking output hike to extending OPEC+ deal up to December 2022, without any revision in production baselines demanded by the United Arab Emirates (UAE) has led to a stalemate.