In the 16th consecutive hike in as many days, petrol price today (Monday) was hiked by 33 paise per litre and diesel by 58 paise, taking retail rates of fuel prices to a record high.

Fuel prices have been shooting up each day since oil companies resumed daily price revisions after an 83-day hiatus period in order to cut down their losses. In 16 days, petrol has risen by ?8.3 per litre and diesel by ?9.46 per litre. This is a record increase in rates of fuel in any fortnight since pricing was deregulated in April 2002.

In Delhi, a litre of petrol now costs ?79.56 per litre, nearing the ?80 mark. Diesel prices in the state have shot up to ?78.55 a litre from ?78.27.