Diesel car owners in Mumbai spending 700 more on fuel per month compared to 2017

Diesel car owners in Mumbai spending 700 more on fuel per month compared to 2017
Mumbaikars are spending significantly more on their commute compared to last year

Prices of petrol and diesel in Mumbai reached new highs on Monday, as Oil Marketing Companies (OMCs) hiked fuel prices for the 9th consecutive day.

As of 6 am today, price of petrol in Mumbai has reached a new high at Rs 86.56 per litre (increased by Rs 0.31 per litre) while diesel spurted to a new high of Rs 75.54 per litre (increase by Rs 0.44 per litre).

In the national capital, petrol is being sold Rs.0.31 higher at Rs 79.15 per litre, while diesel prices have been hiked by Rs.0.39 to a price of Rs 71.15 per litre.

In comparison, petrol was sold at Rs 86.25 per litre and diesel at Rs 75.12 per litre in Mumbai on Sunday. Meanwhile, in Delhi, price of petrol was Rs 78.84 per litre and that of diesel was Rs 70.76 per litre.

The skyrocketing fuel prices have burnt a hole in people’s pockets.

A resident of Mumbai requested the government to intervene in the matter and facilitate a decrease in prices.

“We are facing a lot of problem due to hike in fuel prices. Would like to request the government to decrease the prices,” Taj Mohammad, a Mumbai resident, told ANI.

Moreover, compared to last year, Mumbaikars with petrol cars spend an average of Rs 481 more on fuel per month, while those with diesel cars spend roughly Rs 708 more (refer table above).

Union Minister for Petroleum and Natural Gas Dharmendra Pradhan on Sunday attributed the rise in fuel prices on external factors, adding that the increase was temporary.

“I would like to mention two points, and both these subjects are external. OPEC (Organisation of the Petroleum Exporting Countries) had promised that it will raise production by one million barrels per day, which was not raised,” Pradhan said.

“Apart from that, crises in countries like Venezuela and Iran are increasing. There is a pressure on oil prices due to a decrease in production. Secondly, global currencies have weakened against the US dollar,” he added.

There has been a steep increase in fuel prices since August 16, after the rupee hit a record low of 71 against the US dollar.

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