Fuel price hike: Petrol rises to Rs 106.93 in Mumbai, increases to Rs 100.91 in Delhi

The oil marketing companies (OMCs) hiked petrol and diesel prices on Saturday after keeping them stable on Friday. The petrol prices were raised by 35 paise per litre and diesel prices were hiked by 26 paise per litre in the national capital.

Accordingly, the price of petrol and diesel increased to Rs 100.91 and Rs 89.88 per litre in Delhi, as per Indian Oil Corporation, the country’s largest fuel retailer. In Mumbai, the petrol price changed to Rs 106.93 per litre on Saturday. The cost of diesel advanced to Rs 97.46 a litre.

The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil (IOC), Bharat Petroleum (BPCL), and Hindustan Petroleum (HPCL) on a daily basis and any revision is implemented from 6 am in the morning.

On the global front, oil prices rose for a second day on Friday as data showed a draw in U.S. inventories, but were heading for a weekly loss amid uncertainty over global supplies after an OPEC+ impasse, according to news agency Reuters.