<p>Petrol and diesel prices soared to new record highs across the country on Saturday after rates were hiked again by 25 paise and 30 paise a litre, respectively.</p>.<p>The price of petrol in Delhi rose to its highest ever level of Rs 102.14 a litre and to Rs 108.19 in Mumbai, according to a price notification of state-owned fuel retailers.</p>.<p>Diesel rates too touched a record high of Rs 90.47 in Delhi and Rs 98.16 a litre in Mumbai.</p>.<p>Prices differ from state to state depending on the incidence of local taxes.</p>.<p>The price hike follows international oil prices soaring to near three-year high as global output disruptions forced energy companies to draw more crude oil out of their stockpiles.</p>.<p>The basket of crude oil India imports has averaged $78 per barrel in last few days.</p>.<p>The fourth increase in its rates this week has sent petrol prices above Rs 100 in most major cities of the country.</p>.<p>Similarly, the seventh increase in prices in nine days has shot up diesel rates above Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.</p>.<p>State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high. Global benchmark Brent crude is trading above $78 per barrel.</p>.<p>In seven price increases since September 24, diesel rates have gone up by 1.85 paise per litre. Petrol price has increased by Re 1 per litre in four instalments this week.</p>.<p>When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre.</p>.<p>Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.</p>.<p>India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>
<p>Petrol and diesel prices soared to new record highs across the country on Saturday after rates were hiked again by 25 paise and 30 paise a litre, respectively.</p>.<p>The price of petrol in Delhi rose to its highest ever level of Rs 102.14 a litre and to Rs 108.19 in Mumbai, according to a price notification of state-owned fuel retailers.</p>.<p>Diesel rates too touched a record high of Rs 90.47 in Delhi and Rs 98.16 a litre in Mumbai.</p>.<p>Prices differ from state to state depending on the incidence of local taxes.</p>.<p>The price hike follows international oil prices soaring to near three-year high as global output disruptions forced energy companies to draw more crude oil out of their stockpiles.</p>.<p>The basket of crude oil India imports has averaged $78 per barrel in last few days.</p>.<p>The fourth increase in its rates this week has sent petrol prices above Rs 100 in most major cities of the country.</p>.<p>Similarly, the seventh increase in prices in nine days has shot up diesel rates above Rs 100 mark in several cities in Madhya Pradesh, Rajasthan, Odisha, Andhra Pradesh and Telangana.</p>.<p>State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high. Global benchmark Brent crude is trading above $78 per barrel.</p>.<p>In seven price increases since September 24, diesel rates have gone up by 1.85 paise per litre. Petrol price has increased by Re 1 per litre in four instalments this week.</p>.<p>When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre.</p>.<p>Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period.</p>.<p>India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.</p>.<p><strong>Watch the latest DH Videos here:</strong></p>