After single-day halt, fuel prices continue to rise

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Fuel prices in the country resumed their upward movement on Thursday with prices hitting fresh highs in three of the four metro cities.

In the national capital, petrol price touched Rs 81 per litre, up from Rs 80.87 on Wednesday, according to data from the Indian Oil Corp website.

On Wednesday, prices were unchanged in three cities, except Kolkata, where fuel prices fell by a rupee after the West Bengal government cut excise duty by Re 1 per litre.

Transport fuel prices have been on a rise for around a month now, owing to higher crude oil prices coupled with a depreciating rupee. Any fall in the Indian rupee against the US dollar makes the import of crude oil expensive as the transaction is done in dollars.

Brent crude oil is currently priced over $79 per barrel. The rupee, on the other hand, slumped to a record low of 72.91 per dollar on Wednesday, before settling at 72.19 per greenback.

In Mumbai and Chennai, petrol was sold at an all-time high of Rs 88.39 and Rs 84.19 per litre respectively, both record levels, up from the previous Rs 88.26 and Rs 84.19 per litre.

In Kolkata too, the fuel price rose but did not surpass the all-time high of Rs 83.75 on Tuesday. On Thursday, it was sold at Rs 82.87 in the West Bengal capital, up from the previous 82.74 per litre.

In tandem with the rise in petrol prices, diesel prices also climbed to fresh highs.

In Delhi, Mumbai and Chennai, diesel prices were at record levels of Rs 73.08, Rs 77.58 and Rs 77.25 respectively, up from the previous levels of Rs 72.98, Rs 77.47 and Rs 77.13 per litre.

Diesel price in Kolkata rose to Rs 74.93, against Wednesday's 74.82 per litre. The all-time high in the city for diesel price is Rs 75.82, recorded on Tuesday.

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