Fuel prices on Friday saw another hike after remaining steady for two consecutive days as Indian Oil Corporation (IOC) raised petrol price by 27 paise and diesel by 28 paise across metros. In the financial capital of the country, Mumbai, the petrol price inched closed to 101-mark as it was being sold at ₹100.98 per litre. Meanwhile, the daily revision in prices is due to factors including international crude prices and exchange rate as India imports more than 80 per cent crude oil it processes and pays in dollars. On May 29, Maharashtra joined the list of states where petrol price breached the ₹100-mark. On Friday, crude oil prices dropped as concerns about the patchy roll-out of anti-coronavirus vaccinations around the globe tempered market optimism.

Source: Hindustan Times June 04, 2021 04:03 UTC