Petrol price nearing to touch an all-time high of Rs 89 per litre in the capital.

Petrol price is nearing to touch an all-time high of Rs 89 per litre in the national capital.

Petrol and diesel prices were hiked by 26 paise and 29 paise per litre each on Monday to touch Rs 88.99 and Rs 79.35 respectively, according to a price notification from oil marketing companies. The diesel prices stood at Rs 78.38. 

On Friday, petrol prices breached the Rs 88-a-litre mark to touch an all-time high of Rs 88.14 in New Delhi. 

Fuel prices, which vary from state to state depending on local sales tax or VAT, are now at a record high in the country, prompting calls for a cut in excise duty to ease the burden on consumers. Petrol and diesel prices are revised on a daily basis in line with benchmark international price and foreign exchange rates. 

Petrol prices in Mumbai stood at Rs 95.46 on Monday as compared with Rs 95.21 yesterday. One litre of diesel will cost Rs 86.34 in the city. In Chennai, petrol inched up 23 paise to sell at Rs 91.19. Diesel was retailing at Rs 84.44 in the city. In Bangalore, petrol and diesel prices surged by 27 paise and 31 paise respectively to Rs 91.97 and Rs 84.12. In Kolkata, the retail price of petrol price was increased by 24 paise to Rs 90.25 per litre