Petrol prices in India rose by 22 to 25 paise on Wednesday, while diesel rates were increased by 13 to 14 paise. This is the 25th time since May 4 that fuel prices have been increased. The price of petrol has increased by Rs 6.26 per litre since then and diesel by Rs 6.68, according to the Hindustan Times.
The price rise pushed the rate of petrol in Mumbai to Rs 102.82 per litre – a record high. Mumbai had on May 29 become the first metro city where the price of petrol crossed Rs 100. The price of diesel in Mumbai on Wednesday was Rs 94.84.
In Delhi, the price of petrol rose to Rs 96.66 on Wednesday, while diesel cost Rs 87.41. In Kolkata, the prices of petrol and diesel were Rs 96.58 and Rs 90.25, respectively.
A litre of petrol cost Rs 97.91 in Chennai, while diesel was priced at Rs 92.04. In Bengaluru, the price of petrol went up to Rs 99.89 and diesel rate rose to Rs 92.66.
In Rajasthan’s Sri Ganganagar, both petrol and diesel sold for more than Rs 100 per litre. The price of petrol in the city was Rs 107.79, while diesel cost Rs 100.51. Petrol prices in Bhopal, Hyderabad and Leh also crossed Rs 100.
State-run oil marketing companies, including Indian Oil Corporation, Bharat Petroleum and Hindustan Petroleum, revise the rates to align domestic fuel prices with the global crude rates.
Global oil prices rose on Wednesday, supported by a recovery in demand, Reuters reported. The price of Brent crude, the global oil-price benchmark, was $74.68 (approximately Rs 5,473.15 ) per barrel, up 0.9% from Tuesday.
The rising fuel prices drove India’s wholesale inflation to 12.94% in May. The month-on-month change in WPI index for May when compared to April was 0.76%.
The fuel and power segment reported a 37.61% increase in May against 20.94% in April. In manufactured items, inflation rose to 10.83% in May compared to 9.01% in the previous month.