Day 10 of price hike: Petrol at Rs 86.72 in Mumbai, diesel at Rs 75.74

Day 10 of price hike: Petrol at Rs 86.72 in Mumbai, diesel at Rs 75.74
Petrol in Mumbai is being sold at Rs 86.72 per litre today, while diesel is being sold at Rs 75.74 per litre (Representational Image, Courtesy: newscubes.in)

The upward trend in the cost of petrol and diesel in Mumbai continued on Tuesday as Oil Marketing Companies (OMCs) hiked fuel prices for the 10th consecutive day.

As of 6 am today, petrol in Mumbai is being sold at Rs 86.72 per litre, Rs 0.16 more than the previous day, while diesel is being sold at Rs 75.74 per litre, Rs 0.20 higher than Monday’s price.

As of today, Mumbai’s car owners spend substantially more on fuel bills than they did 12 months back.

According to one estimate, an average petrol car owners spends around Rs 480 more on fuel per month, while a diesel car owner spends over Rs 700 more.

The rise in prices has burnt a hole in the pockets of motorists, with commuters urging government’s intervention in the matter.

“If at all we have to travel outside Mumbai via car, the prices of the fuel is so high that it pinches our pocket. It is high time that the Centre must take some action in order to control the prices,” Ashwaq Saeed, a commuter from Mumbai told ANI.

Narrating his ordeal, another commuter, Aslam Sheikh, said that because of the surge in prices of petrol and diesel, the prices of the other products are also increasing in the market.

Incidentally, the price of petrol has risen by Rs 7.71 or 9.81 percent in the last one year, while that of diesel has increased by Rs 14.35 or 23.61 percent in the same period.

Amid the rising costs, state transporters have threatened to increase freight rates by 10-15 percent if there was any further hike in the diesel prices.

Due to the direct correlation between freight rates and the price of essential commodities, especially fruits and vegetables, the rising fuel costs may inadvertently lead to a higher inflation rate.

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