Petrol and diesel prices across the country rose on Friday for the 26th time since May 4. The price of petrol increased by 27 paise per litre, while the cost of diesel went up by 28 paise.
The latest revision pushed fuel prices in major cities to record highs. In Mumbai, petrol cost Rs 103.08 per litre, while diesel is priced at Rs 95.14.
The price of petrol in Bengaluru crossed Rs 100 for the first time. Petrol cost Rs 100.17 per litre in the city and diesel was priced at Rs 92.97.
In Delhi, petrol price rose to Rs 96.93, while the cost of diesel went up to Rs 87.69. Petrol was sold at Rs 98.14 in Chennai, while diesel retailed at Rs 92.31.
In Kolkata, petrol and diesel cost Rs 96.84 and 90.54, respectively.
The price of petrol in Rajasthan’s Sri Ganganagar city rose to Rs 108.07. Diesel price rose to Rs 100.82. The city usually reports the highest fuel rates in the country.
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.
The latest increase in fuel prices in India came even as international oil prices reduced.
On Thursday, crude oil prices reduced by nearly 2% from their highest level in years, Reuters reported. Concerns about the demand for oil emerged again as coronavirus cases in the United Kingdom rose.
Traders also expressed concerns that presidential elections in Iran on Friday could hamper the country’s nuclear talks with the United States, and, as a result, sanctions on Iran’s oil exports would continue, according to the news agency.