Post 12th hike, petrol at record high in Mumbai

This the 12th straight day of price hike and the largest daily increase since oil companies started to revise rates on a daily basis in 2017. The increase pushed the petrol price to Rs 90.58 a litre in Delhi and to Rs 97 in Mumbai.

Diesel now comes for Rs 80.97 a litre in the national capital and for Rs 88.06 in Mumbai.

The increase follows a spurt in oil prices in the international market, on which India is dependent to meet its 85 per cent of the needs. Brent oil crossed $65 a barrel this week as a worsening US energy crisis took out almost 40 per cent of the nation’s crude production. In 12 days, retail petrol prices have risen by Rs 3.63 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by Rs 3.84.

Petrol has surged past the Rs 100-mark in some places in Rajasthan and Madhya Pradesh.