Eighth hike in nine days: Petrol at an all-time high in Mumbai at ₹115.88
MUMBAI: Fuel prices surged again on Wednesday, with petrol priced at an all-time high in Mumbai as state-run oil marketing companies raised auto fuel rates by 80 paise per litre for the eighth time in nine days. After the hike, a litre of petrol was available at ₹115.88 in the city and diesel at ₹100.10 a litre.
Just a day before the hike on Tuesday, a litre of petrol was priced at ₹115.04 while a litre of diesel was available at ₹99.25. Thane too saw a massive hike in fuel prices, with a litre of petrol available at ₹116.02 and diesel at ₹100.23. Auto fuels are costliest in the financial capital compared to Delhi, Chennai and Kolkata because of differences in VAT and other local levies. The last time when petrol and diesel were so expensive in Mumbai was on November 3, 2021, when petrol retailed at ₹115.85 and diesel at ₹106.62 a litre.
This rise in retail fuel prices is set to continue, as the gap between the global oil prices and retail fuel prices is still high and oil marketing companies (OMCs) are expected to make up for under recoveries.
