Fuel price increased again; petrol nearing century mark across country

The fuel prices spiked across the country on Friday amidst an increase in food prices caused due to the second COVID-19 wave.

On Friday, the oil marketing companies (OMCs) raised the price of petrol and diesel between 23-30 paisa per litre across the four metros. Accordingly, the price of petrol increased by 27 paisa per litre to Rs 96.93 per litre and diesel by 28 paisa per litre to Rs 87.69 per litre in Delhi.

The petrol prices reached very close to the century mark all across the country,

In Mumbai, fuel price reached a new high of Rs 103.08 per litre on Friday. Diesel price also increased in the city by 30 paisa per litre to reach Rs 95.14 a litre, the highest among metros.

With Friday’s price hike, fuel prices have now increased on 26 days and remained unchanged on 23 days since May 1. The 26 increases have taken up petrol prices by Rs 6.54 per litre in Delhi. Similarly, diesel has increased by Rs 6.96 per litre in the national capital.

Petrol prices in the two other metros have also reached closer to Rs 100 per litre mark and OMC officials said that if international oil prices continued to firm up, this mark could also be breached in other places by month-end.

With global crude prices also rising on pick up in demand and depleting inventories of worlds largest fuel guzzler — US, retail prices of fuel in India is expected to firm up further in coming days.

(With IANS inputs)