The price of petrol increased to a new all-time high of Rs 86.72 per litre in Mumbai on Tuesday, increasing 16 paise from the day before. The price of the fuel rose by the same amount in Delhi to Rs 79.31, and in Kolkata it costs Rs 82.22 a litre.

In Chennai, the price of petrol increased from Rs 82.24 per litre to Rs 82.41.

Petrol prices in the four metro cities have reached new record levels daily since Sunday.

Diesel prices also rose to new record highs on Tuesday, breaching the records set on Monday. The price of diesel rose 19 paise to Rs 71.34 a litre in New Delhi. In Mumbai, it rose from Rs 75.54 to Rs 75.74 per litre. The price of the fuel increased to Rs 74.19 per litre in Kolkata and Rs 75.39 in Chennai – both increases of nearly 20 paise.

“Reasons for hike in petroleum prices [are] well known,” said Bharatiya Janata Party leader Nalin Kohli. “There’s not only fact of strengthening of dollar and weakening of rupee, external factors too. This is good opportunity that when prices go up states charge VAT, sales tax and their ad velorum, in effect when prices goes up states benefit.”

He, however, made a U-turn hours later and blamed the media for quoting him out of context. “I never said it,” Kohli claimed. “I said it is good opportunity to start discussion about including petroleum products in GST.”

Fuel prices have now increased for the 10th straight day in all four metros. The continuing decline in the Indian rupee has affected prices as India is an importer of crude oil. The currency had touched the 71-mark against the United States dollar for the first time in early trade on Friday, and closed even lower on Monday at 71.21.