Free Press Journal

Mumbai: Maharashtra hikes petrol prices again


Mumbai: Maharashtra has once again increased the prices of petrol. This is the second time in the last 15 days that prices of fuel have gone up. The surcharge on petrol has been increased by Rs 2 litre, which will lead to a corresponding hike in the rates of fuel applicable from Wednesday midnight.

The new petrol prices in Mumbai will now stand at Rs 76.87 per litre with the addition of value added tax (VAT) and additional surcharge of Rs 11 (up from the earlier Rs 9) being added to the basic price of the motor fuel. This is up from Rs 74.85 per litre. The increase in surcharge is aimed at balancing the recent reduction in the retail prices of petrol and diesel by Rs 2.93 and Rs 2.65 per litre respectively.

The Maharashtra state government in it’s notification has  said that due to the reduction of petrol and diesel prices by the central government will amount to a revenue loss of Rs 750 crore, of which Rs 250 crore loss is due to the reduction in petrol price.

The diesel prices will continue to remain the same as surcharge has not been hiked by the state government.