Petrol prices increased further on Saturday, rising by 16 paise per litre in Mumbai to Rs 86.09. The prices have crossed Rs 86 in the city for the first time since June 2. In Delhi, the price of petrol rose to 78.68 per litre from Rs 78.52, a rise of 16 paise from Friday’s prices. In Kolkata, the price was Rs 81.60, while in Chennai, it rose from Rs 81.58 per litre on Friday to Rs 81.75.
Diesel prices, which reached an all-time high in New Delhi on Friday, rose further on Saturday. The price of diesel rose 21 paise to Rs 70.42 a litre in New Delhi. In Mumbai, its price rose from Rs 74.54 to Rs 74.76 per litre on Saturday. The price of the fuel increased to Rs 73.27 per litre in Kolkata and Rs 74.41 in Chennai – both increases of over 21 paise.
Prices of both fuels have now increased for the seventh straight day in all four metros. The continuing decline in the Indian rupee has impacted fuel prices. On Friday, the rupee fell 26 paise to close at a new record low of 71.00 against the United States dollar. The currency had touched the 71-mark for the first time in early trade on Friday before recovering slightly, but declined to that level again by close.
The decline in the rupee this week was said to be the result of an increase in the demand for dollars, which typically rises towards the end of every month as importers need to pay their bills.