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Petrol breaches Rs 101 per litre mark in Mumbai, no respite in other metros

Oil is back on the boil after a small pause. In Mumbai, the price of petrol breached the Rs 101-a-litre mark at Rs 101.25 per litre. The fuel in the national capital crossed the Rs 95-per-litre mark.

It is being sold for Rs 95.03 a litre, up from Rs 94.76 on Saturday. In Chennai and Kolkata, the fuel was sold for Rs 96.47, Rs 95.02, respectively, higher than the levels on Saturday.

Similarly, diesel prices also rose across the four cities.

In Delhi, Mumbai, Chennai and Kolkata, rose to Rs 85.95, Rs 93.30, Rs 90.66 and Rs 88.80 per litre, respectively.

Indian fuel prices have soared in the past year as Prime Minister Narendra Modi’s administration has repeatedly raised sales taxes to cushion worsening public finances. Levies now make up around 60% of the retail price and taxes on gasoline and diesel have surged nearly six-fold since 2013.

Mumbai is not the only city to have unique distinction of petrol breaching the Rs 100 per litre mark. Thane reached the mark few days back while few other cities in Rajasthan (including Jaipur), Madhya Pradesh and Maharashtra with the highest VAT levels on auto fuels in the country, have already been selling normal petrol for over Rs 100 a litre for past several days.

Premium petrol price had already crossed the Rs 100 per litre mark in several parts of the country through increase in the retail rates in the month of January and February.

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