Petrol and diesel prices touched a record high on Saturday as the rates were increased for a second consecutive day, NDTV reported.
In Delhi, the petrol prices were increased by 25 paise to Rs 102.14 per litre while diesel rates were raised by 30 paise to Rs 90.47.
In Mumbai, the petrol prices were increased by 24 paise to Rs 108.19 per litre and diesel rates were hiked by 32 paise to Rs 98.16 per litre.
The last time fuel prices in Delhi and Mumbai had touched a record high was in July. At that time, petrol had cost Rs 101.84 in Delhi and Rs 107.83 in Mumbai.
This is the fourth increase in petrol rates this week, according to Moneycontrol. In most cities, petrol cost above Rs 100 on Saturday.
The price of diesel was increased for the seventh time in eight days. It costs more than Rs 100 in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.
State-run oil refiners Indian Oil, Bharat Petroleum and Hindustan Petroleum revisit the fuel rates every day by looking at crude oil prices in international markets and the rupee-dollar exchange rates.
Crude oil traded at Rs 5,630 per barrel on the global benchmark Brent on Saturday.
Brent is a global price benchmark for the crude oils from the Atlantic basin. It is used to set the price of two-thirds of the world’s crude oil trade supplies.
India depends on imports to meet 85% of its oil needs. Thus, a rise in international oil prices directly influences national fuel rates.
A rupee cost 74.12 against one dollar on Saturday.