Inflation in crude oil is expected to lead to a sharp rise in fuel prices in the country in the near future. Crude oil has reached 80 dollars per barrel in the international market. Petrol and diesel prices have been rising for the last four days in a row. Diesel prices have gone up by Rs 2.15 in the last eight days and petrol by Rs 1.20 in the last five days.
Petroleum companies have hiked petrol and diesel prices for the last four days in a row. On Thursday, the companies had hiked petrol prices by 25 paise and diesel by 30 paise. After the hike, petrol price in Bhopal had gone up to Rs 110. On Friday, petrol price was hiked by 25 paise and diesel by 30 paise. On Saturday, petrol price was hiked by 20 paise and diesel by 25 paise. Now, on Sunday, petrol has gone up by 25 paise and diesel by 30 paise.
After today's hike, the price of per litre of petrol in Mumbai has gone up to Rs 108.43. In Delhi, petrol is priced at Rs 102.39. In Chennai, petrol price has been hiked by Rs 100.01. In Kolkata, per litre of petrol costs Rs 103.07. In Bhopal, the price of ordinary petrol has gone up to Rs 110.88. In Bangalore, petrol is priced at Rs 105.95.
Today, the price of per litre of diesel in Mumbai is Rs 98.48. In Delhi, diesel is priced at Rs 90.77. Diesel is priced at Rs 95.31 per liter in Chennai and Rs 93.87 per liter in Kolkata. Diesel is priced at Rs 99.73 in Bhopal and Rs 96.34 in Bangalore.
Meanwhile, demand for oil in Europe has increased and supply is limited, with oil prices expected to rise further in the near future, experts said. After the hike in petrol and diesel prices, the price of petrol has gone up to Rs 100 per liter in about 17 states and union territories. Petrol and diesel prices are at an all-time high across the country, with Bhopal having the highest rates of petrol and diesel in the country.