India's fuel prices continue to hit record high
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New Delhi: Adding more misery to the life of the common man amid the pandemic, oil marketing companies have further increased the fuel prices across the country on Thursday.
In the latest round of fuel price hike, the price of petrol has been increased by 26 paise per litre to Rs 97.76 a litre in Delhi but kept diesel price hike relatively lower at just 7 paise per litre that has raised its retail level at Rs 88.30 a litre in the national capital.
However, the companies have spared diesel users from a big spike while maintaining a regular increase in the retail price of petrol.
With the rise, petrol price has reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana and Andhra Pradesh.
One litre of petrol in Kerala's southernmost town at Parassala, bordering Tamil Nadu on the southern side has crossed Rs 100 on Thursday morning after the day's price went up by 26 paise and touched Rs 100.04 per litre. This is the first time in the southernmost state where the price has crossed Rs 100 a litre.
In the city of Mumbai, where petrol crossed the Rs 100 a litre mark for the first time on May 29, the fuel price reached a new high of Rs 103.88 per litre on Thursday. Diesel price also increased marginally in the city to reach Rs 95.80 a litre, the highest among metros.
With Thursday's price hike, fuel prices have now increased on 29 days and remained unchanged on 26 days since May 1. The 29 increases have raised petrol prices by Rs 7.37 per litre in Delhi. Similarly, diesel price has increased by Rs 7.57 per litre in the national capital.
With global crude prices also rising on a pickup demand and depleting inventories of the world's largest fuel guzzler - the US, retail prices of fuel in India are expected to firm up further in the coming days. The benchmark Brent crude reached a multi-year high level of over $75 on ICE or Intercontinental Exchange.
