Fuel prices rose to record highs on Wednesday after Oil Marketing Companies hiked them on Wednesday after a day’s pause.
Petrol costs Rs 101.76 per litre in Mumbai while diesel is selling at Rs 93.85 per litre. Petrol is retailing at Rs 95.56 in Delhi, up by 25 paise while diesel is selling at Rs 86.47 per litre, a hike of 25 paise.
This is the 22nd hike since May 4 when the OMCs began increasing the price after an 18-day pause.
The continuous spike in fuel prices is on the back of firming up of crude oil prices as the global economy is expected to witness a resurgence of demand and as the oil glut dwindles.
