Petrol, diesel prices increased by Rs 3 per litre in Delhi amid supply concerns
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The prices of petrol and diesel were on Friday increased with immediate effect amid rising global oil prices and supply concerns amid the conflict in West Asia.
In Delhi, the price of petrol increased by Rs 3 per litre to Rs 97.77 per litre from Rs 94.77 per litre. Diesel will cost Rs 99.67 per litre instead of Rs 87.67.
The price of petrol was increased by Rs 3.29 per litre in Kolkata, by Rs 3.14 per litre in Mumbai and Rs 2.83 per litre in Chennai.
Diesel would cost Rs 3.11 more per litre in Kolkata, Rs 3.11 per litre in Mumbai and Rs 2.86 per litre in Chennai.
The hike comes as oil marketing companies face mounting pressure with global crude prices continuing to rise amid the war in West Asia. Benchmark Brent crude was trading at $106.6 per barrel on Friday. The price of Brent was $78 per barrel on February 27, a day before the conflict started.
On Monday, the Union government had ruled out any immediate bailout package for state-run oil companies despite losses linked to the crisis in West Asia.
The clarification had come as concerns grew about under-recoveries, the gap between the cost of producing fuels such as petrol, diesel and liquefied petroleum gas and their retail selling prices.
Union Petroleum Minister...