Mumbai: Petrol, Diesel prices hit high; Petrol costs Rs 86.54/l and diesel Rs 75.53/l

As petrol and diesel prices continue to rise and making a new record everyday, now the petrol price in Mumbai has hit an all time high reaching to Rs 86.56 and Rs 75.53 petrol and diesel respectively. Oil Marketing company in Mumbai hiked petrol and diesel price for the eight consecutive day increasing 31 paise and 39 paise respectively on Monday.

The petrol price was increased to Rs 86.56 per litre in Mumbai whereas Rs 78.84 in the country’s capital, Delhi.  While the selling price of petrol in Kolkata is Rs 81.76 and  Rs 81.92 in Chennai, according to the daily price notification issued by the OMCs.

Except Mumbai this key transportation fuel remain below its earlier high of Rs 86.24 on May 29. In Delhi, diesel was priced at Rs 70.21 per litre. In the other key metros of Kolkata, Mumbai and Chennai, the fuel was sold for Rs 73.06, Rs 74.54 and Rs 74.18 respectively.

In the last five months, Petrol and diesel prices have increased by Rs 4.66 a litre and Rs 6.35 a litre. Petrol in Delhi was selling at Rs 78.52 per litre, nine paise higher than its previous record high of 78.43 on May 29 this year. In Kolkata, Mumbai and Chennai, petrol prices stands at Rs 81.44, Rs 85.93, Rs 81.58 per litre respectively.

The increase in petrol and diesel prices, that surpassed previous highs across metros on Sunday, gains significance as it is mostly used in vehicles for transportation of food and agricultural products, which could lead to higher inflation.

Oil minister Dharmendra Pradhan has said, “Such a situation has arisen due to the rise in crude oil price in international market and devaluation of Indian rupee against US Dollar. The government is concerned about it.”

The appreciation of dollar against rupee has also pushed up rates for compressed natural gas (CNG) as well as piped natural gas (PNG) since the price of gas procured by city distributors is mostly dollar-denominated.

Also Read: Delhi: Diesel price hits record high of Rs 70.21 a litre, petrol reaches Rs 78.52 a litre