Monday and Tuesday did not see any change in prices of petrol and diesel. Prior to this, the prices of both the fuel rose by 35 paise each for four consecutive days.
Petrol and diesel prices increased by 35 paise per litre on Wednesday after two days of no activity. At the time of publish, petrol prices in Delhi peaked at a record high of Rs 106.19 for every lite and Rs 112.11 per litre in Mumbai.
Diesel was now available in Mumbai at Rs 102.89 per litre and Rs 94.92 for every litre in Delhi.
Monday and Tuesday did not see any change in prices of petrol and diesel. Prior to this, the prices of both the fuel rose by 35 paise each for four consecutive days.
Petrol has breached the Rs 100 mark in almost all state capital whereas diesel has touched the level in about twelve states. Prices differ from state to state owing to varied incidence of local taxes.
Brent Crude is trading at $84.42 per barrel for the first time in seven years on Wednesday.
India depends on oil imports to meet about 85 per cent of its domestic oil needs. Therefore, the international prices of crude oil have a significant bearing on the economy.