OIL & GAS

Mumbai crosses Rs 90-mark for petrol, highest among metros

Petrol breached the Rs 90-mark in Mumbai on Sunday, while the price of diesel skyrocketed to over Rs 80. The petrol rate in Mumbai (Rs90.05) was the highest among all metro cities. Across Maharashtra, petrol prices in as many as 27 districts have soared over the Rs 90-mark, while diesel rates in 16 districts have crossed Rs 80.

Parbhani had the highest petrol rate at Rs 92.47 a litre, which was also the highest in the country. At Rs 81.69, the cost of diesel in Amravati was the highest in the state.

Petrol price in Mumbai was hiked by 27 paise on Sunday and was retailing at Rs 90.05 at the pumps, while diesel rate increased by 30 paise and was priced at Rs 80.23 a litre. Petrol rates in the city were high as compared to Delhi (Rs 83.41), Kolkata (Rs 84.90), Chennai (Rs 86.25), Bengaluru (Rs 86.20) and Hyderabad (Rs 86.75).

The fuel hikes will pinch the pockets of motorists especially at a time when car and bike sales have risen in the city. There are over 11 lakh cars and 23 lakh two wheelers in Mumbai. Anticipating the hikes -this is the 10th hike in a fortnight -several car owners had filled up fuel tanks a few days back, said a petrol pump owner from LBS Marg, Bhandup.

With diesel comprising 65% transportation costs, the spree of hikes will lead to at least 7-8% increases in freight rates across the state, said transporters

Source
ET Energy World
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