Bengaluru sees petrol price breaches Rs100 as fuel prices see new highs

New Delhi: Petrol and diesel prices were on Friday raised for the tenth time this month and have breached all records.

Bengaluru has become the latest Indian city to hold the dubious record of petrol price crossing the Rs-100 mark. On Friday, oil companies hiked petrol and diesel prices by 26 paise to 30 paise per litre after keeping the price stable for just one day.

The revised petrol price in Bengaluru is now at ₹100.17 per litre and diesel price is at diesel ₹92.97 per litre.

Meanwhile, in Delhi, the petrol prices have been increased by 27 paise from Rs 96.66 per litre to ₹ 96.93 per litre and diesel prices have been raised by 28 paise from ₹ 87.41 per litre to ₹ 87.69 per litre. In Mumbai, the revised prices of petrol and diesel are ₹ 103.08 per litre and ₹ 95.14 per litre respectively. Fuel rates vary across the states due to value-added tax.

The petrol prices are above ₹ 107 and diesel has surpassed the ₹ 100 marks at Rewa in Madhya Pradesh.

The state-run oil marketing companies - Indian Oil Corporation (IOC), Bharat Petroleum, and Hindustan Petroleum align the rates of domestic fuel with that of the global crude oil prices by taking into account any changes in foreign exchange rates. Any changes in fuel prices are implemented with effect from 6 am every day.

Meanwhile, crude oil prices fell nearly 2 per cent from their highest level in years on June 17 as the dollar strengthened after the US Federal Reserve signalled it might raise interest rates as soon as 2023.

Brent futures fell $1.31, or 1.8 per cent, to settle at $73.08 a barrel, while U.S. West Texas Intermediate (WTI) crude fell $1.11, or 1.5 per cent, to settle at $71.04.