Petrol at ₹87.39, diesel at ₹76.51: Mumbai witnesses steepest fuel price hike in months

While petrol prices went up by 48 paise per litre, diesel soared by ₹55. Fuel prices have been on the rise since mid-August, going up almost every day due to a weak rupee and rise in crude oil prices.

Fuel prices in the financial capital touched a new high on Friday, with petrol prices soaring by 48 paise, and diesel 55 paise a litre — one of the steepest single-day rises in Mumbai in recent months.

The Opposition has slammed the rise in petro prices under the Modi government. (AFP File)

On Friday, petrol sold at ₹87.39 a litre, while diesel cost ₹76.51 a litre.

Fuel prices have been on the rise since mid-August, going up almost every day, owing to a weak rupee and a rise in crude oil prices.

In some cities in Maharashtra, petrol prices touched ₹90 a litre — for instance, in Amravati, Buldhana, where they were selling for ₹88 and ₹77 a litre.

Petrol pump operators said over the past 10 days, the maximum fuel prices rose to was 42 paise a litre. Friday was the first time the prices went up by more than 50 paise a litre.

Transporters ar enow demanding that fuel prices are revised quarterly, instead of daily. Harsh Kotak, a leader of bus operators in Mumbai, said this was the first time the price has gone up 50 paise a day since June 2017, when the government began revising fuel prices every day. Until June 2017, state-run fuel retailers such as Indian Oil Corporation, Hindustan Petroleum and Bharat Petroleum, revised fuel rates on the 1st and 16th of every month, based on average international price in the preceding fortnight and the currency exchange rate.

The School Bus Operators Association, has already warned that they would increase monthly fee by ₹100. The school bus operators and other federations of the transport industry are also demanding bringing petrol and diesel under the ambit of Goods and Services Tax (GST).