Petrol Price Hike: Oil companies have again increased fuel prices across the country on the pretext of rising crude oil prices, taking the price of petrol in Mumbai to Rs 102 per liter.
Petrol Price Hike: The common man is facing the brunt of rising fuel prices as oil marketing companies on Friday once again decided to pass on the burden of hike in global oil rates to consumers. Accordingly, the retail price of petrol and diesel in Delhi increased by 29 paise per liter and 28 paise per liter to Rs 95.85 and Rs 86.75 per liter respectively. Also Read – Petrol and Diesel Price Hike: After a gap of one day, oil prices increased again, know- the latest rates of your city
While the price of petrol in Mumbai city crossed Rs 100 for the first time on May 29, the price of petrol reached a new high of Rs 102.04 per liter on Friday. Also Read – Petrol-Diesel Pirce Hike: Petrol was never sold so expensive till today, prices reached record high, know – today’s new rates
Diesel prices also increased to Rs 94.15 per liter in the city, which is the highest among metros. Also Read – Petrol- Diesel Price Hike: Petrol-Diesel prices increased for the second consecutive day, know- what are the oil rates in your city today?
Petrol and diesel prices across the country also rose between 26-32 paise per liter on Friday, but their retail prices varied depending on the level of local taxes in different states.
In Rajasthan, especially in the cities near the border areas, diesel is expected to touch the Rs 100 mark a day. So, it will happen in some places like Madhya Pradesh, Maharashtra, Telangana, Tamil Nadu, Andhra Pradesh, Karnataka and Bihar where, due to high VAT rates, fuel prices are always very high compared to the rest of the country. The premium fuel is already above Rs 100 in many cities for the past few months.
The rise in global crude oil prices is expected to further strengthen the retail prices of fuel in India in the coming days.
Benchmark Brent crude is currently trading at $72.23 on ICE or the Intercontinental Exchange.