Petrol price on Friday crossed the Rs 90-per-litre mark in the national capital, and diesel soared to Rs 80.60 after rates were increased for the 11th consecutive day in a row.
Petrol price on Friday was hiked by 31 paise per litre and diesel by 33 paise, according to a price notification of state-owned fuel retailers.
This pushed the petrol price to Rs 90.19 a litre in Delhi and to Rs 96.62 in Mumbai. Diesel now comes for Rs 80.60 a litre in the national capital and for Rs 87.62 in Mumbai.
The increase follows a spurt in prices of oil in the international market, on which India is 85 per cent dependent to meet its needs. Brent oil crossed USD 65 a barrel on Thursday as a worsening US energy crisis took out almost 40 per cent of the nation’s crude production. In 11 days, retail petrol prices have risen by Rs 3.24 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by Rs 3.47. Petrol price has already surged past the Rs 100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel. Retail pump prices defer from state to state depending on the local taxes (VAT) and freight.