Fuel prices: IOC’s ‘dynamic pricing’ leads to price rise on the third consecutive day; petrol touches ₹75 in Delhi

New Delhi: Petrol prices continued to rise across the country on Wednesday and crossed the ₹75 per litre mark in the national capital.

The fuel was priced at ₹75.10 per litre in Delhi, the highest since it hit ₹76.06 a litre in September 2013.

In the other metropolitan cities of Kolkata, Mumbai and Chennai also, petrol prices were at fresh multi-year high levels of ₹77.79, Rs 82.94 and ₹77.93 per litre respectively, data from the Indian Oil Corporation (IOC) website showed.

The previous highs in these cities were ₹78.03 (Kolkata, August 2014), ₹83.62 (Mumbai, September 2013) and ₹79.55 (Chennai, September 2013) respectively.

Similarly, prices of diesel also touched fresh record levels on Wednesday. In Delhi, Mumbai, Kolkata, and Chennai, the fuel was sold at ₹66.57, ₹69.11, ₹70.88 and ₹70.25 per litre.

Prices of transport fuels, rose for the third consecutive day after the IOC resumed the dynamic pricing system on Monday after a 19-day halt.

This spiral in prices of transport fuels comes amid continuous gains in crude oil prices globally. The Brent crude oil is currently priced around $78 per barrel.

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