<p>Brace for a steep hike in petrol and diesel prices in coming weeks after the global crude oil prices ruled a three-year high of $80 per barrel. Experts have even suggested an 8%-10% rise in retail prices of transports fuels.</p>.<p>Petrol prices are currently ruling their highest in Mumbai at over Rs 107 per litre. It is over Rs 104 a litre in Bengaluru and more than Rs 101 per litre in Delhi.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/economy-business/petrol-diesel-prices-up-more-hikes-likely-as-crude-prices-jump-1035014.html" target="_blank">Petrol, diesel prices up; more hikes likely</a></strong></p>.<p>“As demand is returning for energy products while supply concern persists, we see Brent crude, which is trading above $80 per barrel, to witness levels like $85-86. Also, support seen after Goldman Sachs said the Crude market’s deficit was larger than expected, and raised its year-end Brent forecast by $10 to $90 a barrel. Together with this, a weakness in rupee will lend 8-10% gain in petrol and diesel prices,” Ajay Kumar, director, Kedia Commodities, told <em><span class="italic">DH</span></em>.</p>.<p>“Rising crude oil prices will eventually seep into retail fuel prices, adding to inflationary pressure,” said Aditi Nayar, Chief Economist at ICRA.</p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
<p>Brace for a steep hike in petrol and diesel prices in coming weeks after the global crude oil prices ruled a three-year high of $80 per barrel. Experts have even suggested an 8%-10% rise in retail prices of transports fuels.</p>.<p>Petrol prices are currently ruling their highest in Mumbai at over Rs 107 per litre. It is over Rs 104 a litre in Bengaluru and more than Rs 101 per litre in Delhi.</p>.<p><strong>Also read: <a href="https://www.deccanherald.com/business/economy-business/petrol-diesel-prices-up-more-hikes-likely-as-crude-prices-jump-1035014.html" target="_blank">Petrol, diesel prices up; more hikes likely</a></strong></p>.<p>“As demand is returning for energy products while supply concern persists, we see Brent crude, which is trading above $80 per barrel, to witness levels like $85-86. Also, support seen after Goldman Sachs said the Crude market’s deficit was larger than expected, and raised its year-end Brent forecast by $10 to $90 a barrel. Together with this, a weakness in rupee will lend 8-10% gain in petrol and diesel prices,” Ajay Kumar, director, Kedia Commodities, told <em><span class="italic">DH</span></em>.</p>.<p>“Rising crude oil prices will eventually seep into retail fuel prices, adding to inflationary pressure,” said Aditi Nayar, Chief Economist at ICRA.</p>.<p><strong>Check out latest videos from <i data-stringify-type="italic">DH</i>:</strong></p>
