NEW DELHI: Pump prices have been rising for the last five days and look set for further gains as global benchmark Brent crude topped the $70-mark on Monday as the markets remain jittery over Iran’s next move after the US bombed and killed a top Iranian general.
Petrol became costlier by 15 paise a litre and diesel 17 paise. Petrol is selling for Rs 75.69 per litre in Delhi, the highest since November 2018. Diesel is retailing for Rs 68.68 a litre. Petrol price has increased by 53 paise a litre since January 2, while diesel has risen by 72 paise.
The impact of the rising crude on fuel consumers is amplified by a falling rupee, which raises the cost of refiners who have to shell out more to buy dollar to pay for crude. The rupee slid 13 paise from its previous close of 71.80 to settle at 71.93 against the dollar on Monday.
