Petrol and diesel prices have been increased for the second day this week, taking the fuel prices to a new height across India. Mumbai, one of the major metro cities in the country, will now have to pay almost ₹100 for a litre of petrol after the latest hike on Thursday.
Petrol price has been revised in Mumbai to ₹99.94 per litre as the oil companies increased it by 23 paise for a litre in today's hike. Diesel price has also been increased by 30 paise a litre, which means Mumbai will have to shell out ₹91.87 to get one litre.
In the national capital, petrol will cost ₹93.68 per litre from today, while diesel will cost ₹84.61 for the same amount. In Chennai, petrol price has gone up to ₹95.28 for a litre and ₹89.39 per litre for diesel. Kolkata will have to pay ₹93.72 for a litre of petrol and ₹87.46 for a litre of diesel.
Among other cities in India, Bhopal remains one of the most expensive places to buy petrol. After the latest hike, a litre of petrol in Bhopal will cost ₹101.77. Diesel price too is inching towards the triple digit mark with price going up to ₹93.07 for a litre. Petrol prices have already crossed the ₹100 mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra in the past few days.
Oil companies took a pause on Monday, before resuming revision of fuel prices in India on Tuesday this week. While Wednesday was a relief, the second hike has taken the fuel prices to fresh highs amid slump in fuel demand.
The recent spate of hikes began on May 4, after an 18-day pause in an upward price rally. In fact, the oil companies had not raised prices since March 26, a day before elections began in five states across the country. Since January, fuel prices had shot up to record level after it was hiked on 26 occasions.