Petrol touches all-time high of ` 97 in Mumbai

Fuel prices continued to rise across the country for the 12th straight day on Saturday. Petrol prices on Saturday touched an all-time high of Rs 97 per litre in Mumbai while diesel crossed Rs 88-mark.

Petrol price was hiked by 39 paise per litre and diesel by 37 paise a litre, according to the state-owned oil marketing companies.

The increase pushed the petrol prices in Delhi and Mumbai to Rs 90.58 and Rs 97 per litre respectively. Diesel was sold at Rs 80.97 a litre in the national capital and Rs 88.06 in Mumbai on Saturday.

The increase follows a spurt in oil prices in the international market, on which India is dependent to meet its 85 per cent of the needs. Brent oil crossed USD 65 a barrel this week as a worsening US energy crisis took out almost 40 per cent of the nation's crude production.

In 12 days, retail petrol prices have risen by Rs 3.63 a litre, a record since the pricing was deregulated in 2010, and diesel rates have gone up by Rs 3.84.

Petrol price has already surged past the Rs 100-mark in some places in Rajasthan and Madhya Pradesh, which levy the highest VAT on the fuel.