Petrol price rises to ₹75.91 a litre in Mumbai after 50-day slide

A day before, petrol was sold for ₹75.80 a litre in the city.

After a steady, continuous drop for more than 50 days, the price of petrol in Mumbai increased by 11 paise on Thursday and was sold at ₹75.91 per litre.

For over two months, commuters had received a huge respite from the soaring fuel prices. (REUTERS)

A day before, petrol was sold for ₹75.80 a litre in the city. However, the price of diesel remained unchanged. For the third consecutive day, diesel was sold at ₹67.66 a litre. For over two months, commuters had received a huge respite from the soaring fuel prices. The price of petrol was continuously going down since October 16.

Last month, the price of petrol went below the ₹80 mark, in the highest ever price drop in the recent past. Due to the continuous drop in fuel prices since mid-October, petrol rates had gone back to what it was in beginning of March.Both petrol and diesel prices had reached a peak in the beginning of October, after which both the union and the state government announced a tax cut on petrol and diesel following public outrage over rising fuel prices.

Fuel prices in the country hit a new benchmark in October with the price of petrol in Mumbai touching ₹91.34 per litre.

Cost of the other transportation fuel, diesel had also increased in Delhi, Mumbai and Chennai touching fresh record levels.

Coincidently, the price of petrol went up a day after the results of assembly polls in five states, which raised questions among transporters. “Was the government waiting for people to cast a vote?” said Harsh Kotak, a leader of bus operators in Mumbai. He also said that a small variation in fuel prices is not an issue, but it should not increase beyond a certain level.