Fuel prices rise by 80 paise for second consecutive day in Mumbai, now at ₹111.67

The last time a litre of petrol crossed ₹111.67 in the city was on October 15, 2021 while a litre of diesel touched ₹95.79 on June 25, 2021

MUMBAI: The retail price of petrol and diesel on Wednesday was increased by 80 paise each in Mumbai for the second consecutive day. A litre of petrol in Mumbai will now cost ₹111.67, while diesel price has been raised to ₹95.85

Fuel prices soared in Thane as well, where a litre of petrol was priced at ₹111.81 and a litre of diesel was available at ₹95.99 (Agencies)

The last time a litre of petrol crossed ₹111.67 in the city was on October 15, 2021 while a litre of diesel touched ₹95.79 on June 25, 2021.

On Tuesday, fuel prices increased in the city four months after being stable. A litre of petrol crossed ₹110 in Mumbai and was priced at ₹110.82 while a litre of diesel touched ₹95 and was available at ₹95.00 on Tuesday.

Transporters have called the hike in prices as a shocking move and have stated that the hike will impact the common man.

Bal Malkit Singh, chairman, All India Motor Transport Congress (AIMTC), “After hiking the bulk diesel prices by ₹25 a litre, Tuesday’s hike in retail prices of petrol and diesel is an unwelcome move by the government. If the government can freeze the fuel rates on account of election convenience. This is a shocker to the transport sector and the common man. The current increase and subsequent defreeze on daily hikes will lead to increase of the transport costs and into the prices of other goods spiralling the inflationary trend leading to imminent stagflation. The inflation in the country at its acme and the governments, both central and the states, must opt for duty cuts to beat the inflationary pressure and its impact on the people and the economy.”