Petrol and diesel prices were hiked for the second consecutive day on Thursday resulting in the capital seeing Rs 100.56 and Rs 89.62 per litre respectively.

Tarun Kapoor, secretary of Ministry of Petroleum & Natural Gas in an interview with CNBC-TV18 said that he was hopeful that the hikes would ebb now.

“Oil prices, it’s all linked to international price. Oil companies have been given freedom. We are hopeful that the price has reached the highest level now," he said.

Petrol and diesel prices have seen hikes practically on daily basis recently. In Mumbai, the petrol price changed to Rs 106.59 per litre on Thursday. The cost of diesel advanced to Rs 97.18 a litre.

Crude prices over USD 75 per bbl and it went up to USD 77-78 per bbl recently.

"Crude has now eased a bit. So hopefully it should stabilize or start coming down,” said Kapoor.

For the entire interview, watch the video

(Edited by : Abhishek Jha)

First Published:Jul 8, 2021 2:04 PM IST