Mumbai, September 27: Looking at the current scenario of the rising fuel prices, the oil companies have started upgrading their fuel dispensers to ensure that they display correct prices when rates reach Rs 100 per litre. Oil companies have made the move after a persistent increase in global crude oil prices. Private and state-running fuel retailers said that although its unlikely to soar to Rs 100 a litre, they don't want to take a chance. Will Petrol Prices Reach Rs 100 Mark? Thanks to Pump Machines, Fuel Rates Can't Be Raised Above Rs 99.99/Litre!

Most petrol pumps don't need upgradation, but some have old fuel dispensers that can only display two digits before the decimal. In Mumbai, petrol and diesel are being sold at Rs 90.35 and Rs 78.82 per litre.

Oil companies have started discussing the matter with the digital board providers and are expecting to receive new displays on time before the prices soar.

The hike in fuel prices is also due to a rise in the cost of crude oil and high excise duty on transportation of fuel. Petrol prices are determined by the cost of crude oil in the global market. The fall in the value of rupee has also led to an increase in prices of fuel.

(The above story first appeared on LatestLY on Sep 27, 2018 01:20 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).