Fuel rates rise for fourth consecutive day

NEW DELHI

Fuel price on Monday shot up by seven paise per litre and diesel by 18 paise for the fourth consecutive day.

According to a notification from oil marketing companies, it said they hiked the petrol price in Delhi on Monday to Rs. 81.53 a litre from Rs. 81.46 per litre. On a similar note, diesel prices rose to Rs. 71.25 a litre in Delhi from a level of Rs. 71.07 a litre on Sunday.

Since September 22 and October 2, petrol and diesel prices have remained stable. The benchmark Brent crude crossed $45 a barrel on Intercontinental Exchange (ICE).

Oil Marketing Companies have resorted to increasing the price, as the news of a successful COVID-19 vaccine in the offing has put the spotlight again on crude oil.