Petrol in Mumbai breaches Rs 100-mark after fuel prices hiked for 15th time in May; check rates here
New Delhi | Jagran Business Desk: Petrol price on Saturday crossed the Rs 100-a-litre mark in Mumbai after the 15th increase in fuel prices this month. Mumbai became the first metro city in the country where the crucial fuel was sold above Rs 100 per litre at Rs 100.16 per litre. Petrol price was increased by 26 paise per litre and diesel by 28 paise a litre, according to a price notification of state-owned fuel retailers.
The price of petrol, which had already crossed the Rs 100-mark in several cities in Rajasthan, Madhya Pradesh and Maharashtra, breached the psychological barrier in Mumbai on Saturday. Petrol now costs Rs 100.19 a litre in Mumbai and diesel comes for Rs 92.17 per litre. In Delhi, the petrol price rose to Rs 93.94 a litre and diesel to Rs 84.89.
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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.
How the petrol prices increased in May 2021:
In the ongoing month of May 2021, the first fuel price hike took place on May 4th after remaining steady for 18 straight days prior to that. On May 4th 2021, the retail price of petrol in Mumbai stood at Rs 96.95 per litre whereas the same stood at Rs 90.55 per litre in New Delhi.
For the next four days straight, petrol prices kept on being hiked by the fuel companies across the country until May 8th. Following which the fifth, sixth and seventh petrol price hike took place on May 10, May 11 and May 12. All these hikes were considered ‘minuscule by the petrol companies as the range of hikes never went beyond Re 1 per litre each time.
After the seventh petrol price hike in the month of May, the prices were hiked on alternate days. The eighth petrol price hike took place on May 14, ninth on May 16, tenth on May 18.
Furthermore, in the month of May, the eleventh petrol price hike took place on May 21, twelfth on May 23, thirteenth on May 25, fourteenth on May 27 and fifteenth on May 29. Since May 4, petrol prices have increased by Rs 3.59 per litre while diesel prices have increased by Rs 4.13 per litre this month.
Posted By: Talibuddin Khan