Petrol and diesel prices on Wednesday rallied to their highest ever levels across the country, as fuel rates were hiked again by 35 paise a litre after a two-day pause.
The price of petrol in Delhi rose to its highest-ever level of Rs 106.19 a litre and Rs 112.11 per litre in Mumbai, according to a price notification of state-owned fuel retailers. In Mumbai, diesel now comes for Rs 102.89 a litre; while in Delhi, it costs Rs 94.92 a litre.
The fuel prices remained static on Monday and Tuesday, but had risen for four straight days by 35 paise per litre each before (October 13-16. There was no change in rates on October 12 and 13.
Diesel prices have increased on 20 out of the last 26 days taking up its retail price by Rs 6.30 per litre in Delhi.
With diesel prices rising sharply, the fuel is now available at over Rs 100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre-mark across the country a few months earlier.
Petrol prices had maintained stability since September 5, but the oil companies finally raised the pump prices last week and this week gave a spurt in the product prices lately. Petrol prices have also risen on 17 of the previous 22 days taking up its pump price by Rs 5 per litre.
Crude prices have been on a surge rising over a three-year high level of over $ 85 a barrel now. It had softened a bit falling below $ 85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the prices of both in the international market was higher by around $9-10 per barrel as compared to average prices during August.