Fuel prices up for 4th straight day as US strike roils oil mkt

New Delhi: Amid fresh fears of conflict in the crude-rich Middle East, Petrol and diesel prices rose for the fourth straight day on Sunday as global oil prices jumped after the US killed a top Iranian general.

The retail pump price of petrol was hiked by 9 paise per litre and that of diesel by 11 paise, according to a price notification of state-owned fuel retailers.

Petrol in Delhi now costs Rs 75.54 per litre -- the highest in more than a year, while a litre of diesel comes for Rs 68.51.

While global stock markets were mixed following the US killing of Qasem Soleimani, oil prices jumped more than 3 per cent on Friday. Oil markets will reopen on Monday after the weekend break.

Sunday's price increase is the fourth straight day of retail prices going up. Since January 2, the petrol price has increased by 38 paise per litre while diesel rates have gone up 55 paise.

Meanwhile, Iran's army chief on Sunday said the US lacked the "courage" to initiate a conflict, after US President Donald Trump warned it would hit dozens of targets in the Islamic republic if Tehran attacked. "I doubt they have the courage to initiate" a conflict in which the Americans threatened to strike 52 targets, Major General Abdolrahim Mousavi said, quoted by state news agency IRNA.

President Donald Trump on Saturday had reacted strongly to Iran's threats of reprisals after a US drone strike killed Iran's top army general, Qassem Soleimani.

The president said the US was targeting 52 sites in Iran and will hit them "very fast and very hard" if Tehran attacks American personnel or assets.