Petrol, diesel prices touch record high; Crude Oil at 3-year-high

Petrol and diesel prices have reached fresh record highs with the second consecutive hike on Friday as the global energy crisis comes closer home.

Price of petrol increased by 24-25paise, while diesel was raised by 32 paise across the country. In Delhi, petrol costs Rs 101.89 and diesel is at Rs 90.17 per litre. In Mumbai, petrol is at Rs 107.95 and diesel at Rs 97.84/litre.

Rising crude prices have been adding pressure to domestic fuel prices. Global benchmark Brent is hovering around a 3-year high as it trades close to the $80 bbl level.

Jet fuel or ATF price hiked by Rs 3,972.94 to Rs 72,582.16/kL in Delhi.

As experts point out, a strong recovery in fuel demand alongside tight supply is leading to rising prices.