Petrol and diesel prices were hiked for the second consecutive day on Saturday reaching new highs across the country.
Petrol price was hiked by 27 paise per litre and diesel 22 paise a litre, according to a price notification of state-owned fuel retailers.
After today’s hike, petrol prices in Delhi rose to Rs 96.12 per litre against Rs 95.85 on Friday, while diesel price soared to Rs 86.98 per litre as compared to Rs 86.76 a litre on Friday.
Rates have been increased across the country and differ from state to state depending on the incidence of value-added tax.
In Mumbai, the price of petrol and diesel stood at Rs 102.30 and Rs 94.39 per litre respectively.
The price of petrol and diesel in Chennai was Rs 97.43 and Rs 91.64 per litre respectively and Rs 96.06 and Rs 89.83 per litre in Kolkata.
The hike on Friday was the 23rd increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal. In 23 increases, petrol price has risen by Rs 5.72 per litre and diesel by Rs 6.24 a litre.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates.
(With inputs from Agencies)