Petrol and diesel prices were raised for the fourth time this week. In New Delhi, the price of petrol and diesel was increased again by 80 paise per liter. Petrol now costs Rs 98.61 per liter and diesel Rs 89.87 per liter in the national capital.
On Friday, petrol prices were increased to Rs 97.81 per liter and diesel Rs 89.07 per liter in Delhi. Prices in Mumbai were hiked to Rs 113.35 per liter for petrol and diesel to Rs 97.55 per liter.
Petrol prices rose to Rs 108.01 and diesel to Rs 93.01 per liter in Kolkata. Petrol now costs Rs 104.43 and diesel Rs 94.47 per liter in Chennai.
Lately, crude oil prices have been volatile surging by nearly 35-40 percent on fear of tight supplies.
Furthermore, it is feared that current sanctions against Russia will curtail more global supplies and stifle growth.
The crude oil price range is a cause of concern for India as it may ultimately add Rs 15-Rs 25 in petrol and diesel selling prices. At present, India imports nearly 85 percent of its crude oil requirements.