Mumbai Is 1st Metro City In India Where Petrol Price Hits Rs 100/Litre; People Are Angry
Millions of Indians are struggling to survive, put food on their tables due to the COVID-19 pandemic and the lockdowns that have hit the common people so hard.
Adding to this is the uncontrolled hike in petrol and diesel prices by the oil companies.
The almost-daily petrol-diesel price hike that was held back by the oil companies during the assembly elections in five states has come back with a vengeance after the polls were concluded.
Since then petrol and diesel prices have been scaling new heights almost on a daily basis.
On the rise daily
On Saturday, Mumbai became the first metro city that is selling petrol at over Rs 100 per litre to consumers.
On Saturday, with an increase of 25 paise per litre, petrol prices in Mumbai went from Rs 99.94 per litre a day earlier to Rs 100.19 per litre.
Diesel prices in the city is also the highest among metro cities at Rs 92.17 per litre, increasing by 30 paise from previous level on Saturday.
At over Rs 100 a litre, petrol price in Mumbai is at the historic high level. Never before the fuel price has come even closer to reaching this mark.
With this Maharashtra has become only the third state in India after Rajasthan and Madhya Pradesh where regular petrol cost Rs 100 or more.?
15th rise since May 4
This is the 15th increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal.
Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates.
Fuel prices differ from state to state depending on the incidence of local taxes such as VAT and freight charges. Rajasthan levies the highest value-added tax (VAT) on petrol in the country, followed by Madhya Pradesh and Maharashtra.
Sri Ganganagar district of Rajasthan had the costliest petrol and diesel in the country at Rs 104.94 per litre and Rs 97.79 a litre, respectively.
