Free Press Journal

Fuel price hike: Petrol at Rs 85.47, Diesel hits record high of Rs 73.90 a litre in Mumbai


Fuel price hike in New DelhiPTI Photo/Kamal Singh

New Delhi: Diesel prices touched record high levels across metro cities and prices of petrol too inched nearer their all-time peak across major cities. As per the daily price notification issued by the state-owned oil firms, in Delhi, diesel price is at Rs 69.61 per litre. In Mumbai, the diesel is sold at Rs 73.90 per litre, Rs 72.46 in Kolkata and Rs 73.54 per litre in Chennai. The new revised rates are applicable from August 28, morning 6 am.

On the other hand, prices of petrol in Delhi is raised to Rs 78.05 per litre. In Mumbai, price of per litre petrol is Rs 85.47. While in Kolkata and Chennai, petrol is priced Rs 80.98 and Rs 81.09 per litre, respectively.

The rise in prices of diesel gains significance as it is mostly used in transportation of food and agricultural products and an increase in its price may lead to higher inflation. The surge in fuel prices is largely attributed to the recent rise in crude oil cost and the high excise duty levied on transportation fuel in the country.

In line with an increase in diesel prices, petrol prices too are on the rise and are nearing their all-time high levels. The all-time high petrol prices in Delhi, Kolkata, Mumbai and Chennai are Rs 78.43, Rs 81.06, Rs 86.24 and Rs 81.43 per litre, touched in May 29.

As per a report of PTI, petrol and diesel will not come under the purview of GST in the immediate future as neither the Centre nor any of the states is in favour on fears of heavy revenue loss.

With Agency inputs.