Petrol at ₹ 97/litre in Mumbai, diesel crosses ₹ 88-mark

The increase pushed the petrol price to ₹ 90.58 a litre in Delhi and diesel ₹ 80.97 a litre.

Petrol price on Saturday touched an all-time high of ₹ 97 per litre in Mumbai while diesel rate crossed ₹ 88 -mark.

Petrol price was hiked by record 39 paise per litre and diesel by 37 paise a litre, according to a price notification of state-owned fuel retailers.

This the 12th straight day of price hike and the largest daily increase since oil companies started to revise rates on a daily basis in 2017.

The increase pushed the petrol price to ₹ 90.58 a litre in Delhi and to ₹ 97 in Mumbai.

Diesel now comes for ₹ 80.97 a litre in the national capital and for ₹ 88.06 in Mumbai.

The increase follows a spurt in oil prices in the international market, on which India is dependent to meet its 85 % of the needs. Brent oil crossed $ 65 a barrel this week as a worsening U.S. energy crisis took out almost 40 % of the nation’s crude production.

In 12 days, retail petrol prices have risen by ₹ 3.63 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by ₹ 3.84.

Petrol price has already surged past the ₹ 100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel.

Retail pump prices differ from state to state depending on the local taxes (VAT) and freight.

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