Inflation is likely to skyrocket as fuel price hikes break consumer sentiment. After a three-day break, petroleum companies on Tuesday resumed petrol and Diesel The rates were increased by 35 paise each. As a result, the price of petrol in Mumbai has gone up to Rs 93.83. Diesel is priced at Rs 84.36.
Oil prices have crossed the 60 mark in global commodity markets. At the London Stock Exchange, crude oil rose by 0.77 a barrel to. 58.22. Brent crude rose $1.22 to $60.56.
The companies had earlier kept fuel rates stable for three consecutive days. Last week, petrol and diesel prices were hiked by 30 paise each on Friday. On Thursday, petrol and diesel became costlier by 35 paise. Earlier, fuel prices were kept stable for eight days.
Meanwhile, earlier price hikes have pushed petrol prices to a record high in many cities. Today, the price of petrol in Mumbai is Rs 93.83. The price of a liter of diesel is Rs 84.36. In Delhi, petrol is moving towards Rs 90. Today, a liter of petrol costs Rs 87.30 in Delhi. Diesel is priced at Rs 77.48. In Chennai, petrol is priced at Rs 89.70 today. Diesel is priced at Rs 82.66. In Kolkata, petrol is priced at Rs 88.63 today. Diesel is priced at Rs 81.06. In Bangalore, petrol is priced at Rs 90.22 and diesel at Rs 82.66.
On the new year, petrol has gone up by Rs 3.59. In January and February, companies raised rates 13 times. With this price hike, petrol has reached a record high. In the last 10 months, petrol has gone up by around Rs 17. Diesel has gone up by Rs 15 during the same period. Diesel price has been hiked 13 times in the new year by Rs 3.61.
| City | Petrol | Diesel |
| Mumbai | 93.83 | 84.26 |
| Delhi | 90 | 87.30 |
| Chennai | 89.70 | 82.66 |
| Kolkata | 88.63 | 81.06 |
| Bangalore | 90.22 | 82.66 |