Mumbai has change into the primary metro metropolis that’s promoting petrol at over Rs 100 per litre to shoppers. Sustaining the worth rise momentum, oil corporations raised the worth of petrol and diesel once more on Saturday by 25-30 paise per litre. With this, petrol costs rose 25 paise per litre in Mumbai taking over retail worth there from Rs 99.94 per litre a day earlier to Rs 100.19 per litre on Saturday.
Diesel costs within the metropolis can be the best amongst metro cities at Rs 92.17 per litre, rising by 30 paise from earlier stage on Saturday. At over Rs 100 a litre, petrol worth in Mumbai is on the historic excessive stage. By no means earlier than the gasoline worth has come even nearer to reaching this mark.
However Mumbai doesn’t have distinctive distinction of breaching the Rs 100 pet litre mark. Thane already reached the mark few days again whereas few different cities in Rajasthan (together with Jaipur) Madhya Pradesh and Maharashtra, having the best VAT ranges on auto fuels within the nation, have already been promoting regular petrol for over Rs 100 a litre for previous a number of days.
Premium petrol costs has already crossed the Rs 100 per litre mark within the metropolis and different elements of the nation by enhance within the retail charges within the month of January and February.
With worth rise on Saturday, in Delhi additionally petrol is being bought at Rs 93.94 a litre whereas diesel at Rs 84.89 a litre, a rise of 26 paise and 29 paise per litre respectively over earlier days worth. Throughout the nation as effectively Petrol and diesel costs elevated on Saturday however the quantum assorted relying on the extent of native taxes in several states.
With Saturday’s worth rise, gasoline costs have now elevated on 15 days and remained unchanged on 14 days to date within the month of Could. The 15 will increase in Could has taken up petrol costs by Rs Three.54 per litre in Delhi. Equally, diesel have elevated by Rs four.17 per litre in nationwide capital.
Beneath each day worth revision, OMCs revise petrol and diesel costs each morning benchmarking retail gasoline costs to a 15-day rolling common of worldwide refined merchandise’ costs and greenback alternate price. Nonetheless, in a market the place gasoline costs must be elevated successively, oil corporations this month have been holding again worth rise on few days earlier than beginning the method over again.
Earlier, IANS had reported that OMCs could start rising the retail worth of petrol and diesel put up state elections as they had been incurring losses to the tune of Rs 2-Three per litre by holding the worth line regardless of greater international crude and product costs.
With international crude costs rising once more to round $70 a barrel mark, OMCs could need to preserve revising costs upwards for some extra time.