Petrol and diesel prices hiked by 35 paise for the third consecutive day across the country

Petrol and diesel prices rallied to their highest ever levels across the country, as fuel rates were hiked again for the third consecutive day on Friday.

Accordingly, the pump price of petrol in Delhi rose by 35 paise to its highest-ever level of ₹106.89 a litre while diesel prices also rose by the same margin to ₹95.62 a litre, according to a price notification of the state-owned fuel retailers.

In the financial capital Mumbai, petrol prices have now risen to ₹112.79 per litre while diesel to ₹103.7 3 a litre, the highest among all metros.

The fuel prices remained static on Monday and Tuesday, but had risen for four straight days by 35 paise per litre previously before rising again for three consecutive days on Wednesday, Thursday and Friday. There was no change in rates on October 12 and 13.

Diesel prices have increased on 22 out of the last 28 days taking up its retail price by ₹7.10 per litre in Delhi.

With diesel prices rising sharply, the fuel is now available at over ₹100 a litre in several parts of the country. This dubious distinction was earlier available to petrol that had crossed ₹100 a litre-mark across the country a few months earlier.

Petrol prices had maintained stability since September 5 but oil companies finally raised the pump prices last week. Petrol prices have also risen on 19 of the previous 24 days taking up its pump price by ₹5.70 per litre.

Crude prices have been on a surge rising over a three year-high level of over $ 85 a barrel now as global demand remains firm while OPEC+ continues to move slowly on increasing production. It has softened to just below $85 a barrel now. Since September 5, when both petrol and diesel prices were revised, the price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.

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