According to the price notification of the state-owned fuel retailers, the price of petrol was hiked by 25 paise per liter and diesel by 30 paise.
Petrol and diesel prices touched an all-time high on Tuesday as rates rose again after international oil prices hit their highest level since 2014.
According to the price notification of the state-owned fuel retailers, the price of petrol was hiked by 25 paise per liter and diesel by 30 paise.
This sent the price of petrol to an all-time high of Rs 102.64 per liter in Delhi and Rs 108.67 in Mumbai. Diesel rates also hit a record high of Rs 91.07 in Delhi and Rs 98.80 in Mumbai.
Prices vary from state to state depending on the incidence of local taxes.
The sixth hike in fuel rates within a week has sent petrol prices above ₹100 in most major cities of the country.
Similarly, the ninth increase in prices in less than two weeks has raised diesel prices by over Rs 100 in several cities of Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.
International oil prices hit a nearly seven-year high after OPEC+ decided to maintain its planned gradual increase in supply, despite facing energy shortages in the market.
Global benchmark Brent jumped to $81.51 a barrel, while West Texas Intermediate rose to $77.76 a barrel.
Being a net importer of oil, India keeps petrol and diesel prices at par with international prices.
Brent was less than $72 a barrel a month ago.
With international crude oil prices moving in both directions during July and August, there was no price hike by Oil Marketing Companies (OMCs) from 18 July to 23 September. Instead, the price of petrol was cut by ₹0.65 per liter and that of diesel by ₹1.25. .
However, with no respite from the hike in international prices, OMCs have started increasing the retail selling price of petrol and diesel from September 28 and September 24 respectively.
Since then, the rates have increased by ₹ 2.45 paise per liter and the price of petrol by ₹ 1.50.
Before the July/August price cut, petrol price was increased by Rs 11.44 per liter between May 4 and July 17. The rate of diesel was increased by Rs 9.14 during this period.
The continued rise in fuel prices has been criticized by opposition parties, who have demanded that the government cut record excise duty on both the fuels to provide relief to consumers.
The government has not yet agreed to the demand.
Oil Minister Hardeep Singh Puri on Saturday declined to comment on the high fuel prices.
Asked about fuel prices at his ministry’s event in the national capital on Saturday, Mr Puri said, “Quit (please leave it)” before walking away.
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