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.

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.