Sunday’s price hike takes Petrol close to Rs 100/ltr in Delhi

Petrol neared Rs 100 mark in the national capital as prices were hiked by 35 paise on Sunday.

Oil Marketing Companies hiked prices on Sunday after keeping them unchanged for a day.

Petrol is selling at Rs 99.51 litre in Delhi while diesel is priced at Rs 89.36.

In the other key cities too petrol prices continued to climb to new highs. In Mumbai, it was priced at Rs 105.58 per litre, while in Chennai also it has surpassed the Rs 100 mark and is currently at Rs 100.44 a litre.

Price of petrol in Kolkata is also inching closer to the three-figure mark and on Sunday it was sold for Rs 99.45 a litre.

In tandem with petrol prices, diesel prices also were raised on Sunday. Price of diesel in Mumbai, Chennai, and Kolkata was Rs 96.91, Rs 93.91, and Rs 92.27 per litre, respectively.

Diesel crossed the Rs 100 mark in some places in Madhya Pradesh while petrol crossed the Rs 100 mark in Sikkim.

Officials in oil companies attribute the consistent increase in fuel prices to development in the global markets where both product and crude prices have been firming up for the past couple of months on demand rise amidst the slowing of the pandemic. However, a closer look at the fuel retail prices in India gives a picture that it is the high level of taxes that is keeping fuel rates higher even in times when global oil prices are firm.