:: Technical --- ID :: 18671
Petrol price reaches Rs 101.76 in Mumbai after fresh hike on Wednesday
Petrol price reaches Rs 101.76 in Mumbai after fresh hike on Wednesday

Petrol price reaches Rs 101.76 in Mumbai after fresh hike on Wednesday

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.

Union petroleum minister Dharmendra Pradhan has blamed rising global crude oil prices for the hike in domestic fuel prices. He has batted for the inclusion of fuel under GST but said that the decision will have to be made by the GST Council.

The Economic Times 09-06-2021