Price Hike! Diesel heads to 100, petrol prices hiked 5th time in a week.

Petrol and diesel prices were hiked once again as global prices continue to edge higher.

Petrol price increased by 21 to 30 paise per litre across India on the day, while diesel price increased by 29 to 32 paise per litre.

This is the fifth hike in petrol prices in a week and has pushed the pump price to Rs 108.43 in Mumbai and Rs 102.39 in Delhi.

Diesel consumers are feeling the hit more as rates have gone up 8 times in the past 10 days with the fuel now retailing at Rs 98.48 a litre in Mumbai.

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Global crude prices are near a 3-year high with no respite in sight from the supply.

Oil producers will meet on Monday as The Organization of the Petroleum Exporting Countries and allies will decide if they need to increase supply into the market as post-pandemic demand has picked up.