Fuel prices hit all-time high, petrol Rs 86.56 per litre in Mumbai

Petrol prices

In the national capital, petrol prices touched Rs 79.15/litre and diesel was at Rs 71.15/litre.

Had the government not stepped in to absorb most of the under-recovery caused by the sinking value of the rand and a modest rise in worldwide oil prices, the price of petrol would have gone up by 28 cents per litre and diesel by 31 cents a litre on Wednesday 5 September, according to the normal Central Energy Fund calculations. Rates have breached the previous high of ₹78.43 a litre hit on May 28. In Delhi, petrol stood at Rs 76.31 per litre on August 1.

A litre of petrol in Mumbai costs Rs?86.56 on Monday.

Diesel now costs ₹?75.54 per litre in Mumbai.

In Mumbai, Kolkata and Chennai, petrol prices went up by in the range of 30-32 paise a litre, with the fuel selling for Rs 82.06 per litre in Kolkata, Rs 86.56 in Mumbai, and Rs 82.24 in Chennai, according to data provided by IOC. The price of diesel, paraffin and LP gas will remain unchanged.

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Petrol is available for Rs 71.25 (111 Nepali rupees) a litre in Nepal, while diesel is sold for Rs 59.43 (95 Nepali rupees). There is a pressure on oil prices due to a decrease in production.

The rupee-dollar exchange rate has dropped to an all-time low of Rs 71.42 to a dollar on August 31.

Also, crude oil has gained United States dollars 7 a barrel in a fortnight, driven by fears that the USA sanctions on Iran will likely contract supplies.

Fuel prices have been on the rise since August 16 after the rupee dipped to its lowest value against the USA dollar.

CNG now costs Rs. 42.60 per kg in Delhi and Rs 49.30 per kg in Noida, Greater Noida and Ghaziabad. The consumer price of PNG to the households in Delhi has been increased to ₹28.25 per scm, while same in Noida, Greater Noida and Ghaziabad would be ₹30.10 per scm, which has been increased by ₹1.26 per scm.

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