Mumbai: Petrol price up over Rs 6 per litre in 14 days, tops rate in metros
MUMBAI: Petrol and diesel rates went up for the eighth day in a row on Sunday, taking the hike in Mumbai to Rs 6.39 per litre and Rs 6.40 per litre in two weeks this month. The retail price of petrol is Rs 82.70 per litre while that of diesel is Rs 72.64 per litre. Petrol is the costliest in Mumbai as compared to other metros.
Petrol Dealers’ Association president M Venkat Rao said the prices are going up by 50-60 paise daily, but there is not much business at the city’s pumps. Pump owners expect more people to fill up vehicle tanks this week, fearing that rates will go up further.
Transporters are not happy with the increase in diesel rates as the expense on fuel is 65% of total transportation cost and this could increase freight costs. “About 70% of the retail price of fuel constitutes the central & state taxes, which in turn is about 275% and 255% on petrol and diesel respectively over the base price,” said Singh Bal Malkit Singh of All India Motor Transport Congress. “The transporters cannot absorb the daily hike in diesel prices as the freight depends mostly on demand and supply forces.
