MUMBAI: Prices of petrol as well as diesel touched new highs on Monday. “Skyrocketing diesel prices are adding to the stress of transporters. Asset idling is at its peak and there are mounting losses. Are we headed toward doomsday?” said Abhishek Gupta from Bombay Goods Transport Association.
Officials said that the price rise was not just due to fluctuations in international crude oil prices, but also due to the value of rupee vis-a-vis the dollar. The fuel price hike will have a cascading effect on the industry, an expert said. “It will increase prices of all FMCGs, white goods, cement, steel etc,” he said.
Bal Malkit Singh of All India Motor Transport Congress said,“Spiralling fuel cost is bleeding the common man and putting road transport operations in a tight spot.”
Since May 2020, petrol and diesel prices have risen by over Rs 15 a litre. Petrol had escalated from Rs 76.31 on April 2, 2020 to Rs 90.34 on December 7 and Rs 90.6 on January 6, touching Rs 91.32 on January 14 and escalating to Rs 91.56 on Monday.
Similarly, diesel shot up from Rs 66.2 in April last year to Rs 80.5 in December and Rs 80.7 on January 6 before touching Rs 81.60 on January 14 and now Rs 81.87. The increasing taxes and VAT which are the highest in Maharashtra has upset consumers.
