Petrol crosses Rs 95 mark in Mumbai as rate hiked for sixth day in a row
Photo Credit: AFP

The prices for petrol and diesel were hiked for the sixth day in a row, on Sunday.

Petrol price was hiked by 29 paise per litre and diesel by 32 paise a litre, according to a notification of state-owned fuel retailers.

This took petrol price to an all-time high of Rs 95.21 a litre in Mumbai, while diesel rate climbed to Rs 86.04.

In Delhi, petrol price soared to Rs 88.73 per litre and diesel price jumped to record Rs 79.06 a litre.

Meanwhile, in Kolkata, petrol was retailing at Rs 90.01 per litre, while diesel prices also went up to Rs 82.65 per litre. In Chennai, petrol prices neared Rs 91 mark as rates on Sunday went up to Rs 90.96 per litre. Diesel in Chennai was priced at Rs 84.16 per litre.

The relentless hike in prices has been criticised by the opposition parties, including Congress that has demanded an immediate cut in taxes to ease the burden on the common man.

However, Oil Minister Dharmendra Pradhan on Wednesday had told Parliament that the government is not considering a reduction in excise duty to cool rates from their record highs.

Rates have risen as international oil prices touched USD 61 per barrel for the first time in more than a year on improving demand outlook amid the global rollout of COVID-19 vaccines, he had said.

Central and state taxes make up for over 61 per cent of the retail selling price of petrol and about 56 per cent of diesel.

The Union government levies Rs 32.9 per litre of excise duty on petrol and Rs Rs 31.80 a litre on diesel.

Retail petrol rates have risen by Rs 18.87 per litre since mid-March 2020 after the government raised taxes by a record margin to mop up gains arising from fall in international oil prices. Diesel rates have gone up by Rs 16.45.

(With inputs from PTI)

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