Petrol and diesel prices have risen again sharply on the back of a surge in global crude prices that has taken it above $ 61 a barrel mark.
The oil marketing companies on Saturday decided to continue raising the price of petrol with the pump price increasing by 30 paise and 36 paise per litre respectively in Mumbai. Petrol price in Mumbai neared record Rs 95 per litre mark on Saturday as its rate as well as diesel prices were hiked for the fifth day in a row.
The increase has taken petrol price in Mumbai closer to Rs 100 a litre with its retail price now reaching Rs 94.93 a litre. Diesel is also most expensive in Mumbai at Rs 85.70 a litre.
In five days this week, price has gone up by Rs 1.51 per litre for petrol while diesel rate has risen by Rs 1.56 a litre.
The last few increases in pump prices in petrol and diesel has taken its price to record levels across the country in all major metro cities and other towns. The last time the retail price of auto fuels were closer to current levels was on October 4, 2018 when crude prices had shot up up $ 80 a barrel.