Fuel prices touched a record high on Saturday after the rates were increased for the fifth consecutive day, NDTV reported. The cost of petrol was hiked by 30 paise per litre and the rate of diesel was increased by 35 paise for every litre.
In Mumbai, diesel costs Rs 100.29 per litre on Saturday, while in Delhi, it is priced at Rs 92.47 per litre. In Delhi, each litre of petrol costs Rs 103.84 and in Mumbai the price of the fuel is Rs 109.83.
Diesel has crossed Rs 100 per litre in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.
This is the thirteenth increase in diesel prices within two weeks, Moneycontrol reported. Since September 24, the price of diesel has increased by Rs 3.85 per litre and petrol by Rs 2.65, PTI reported.
Between May 4 and July 17, petrol rates were increased by Rs 11.44 per litre and diesel by Rs 9.14.
Fuel prices vary from state to state because of different value-added tax and freight charges. Oil companies revise it based on the cost of benchmark fuel in the international market and the foreign exchange rates.
Crude oil prices have risen to a near three-year high of $82.57, or Rs 6,203.61, per barrel. India depends on imports to meet 85% of its oil needs. Thus, a rise in international oil prices typically influences fuel rates in the local market.