Fuel Price Hike: Petrol price touches all-time high of Rs 88.67, diesel crosses Rs 77.82 in Mumbai

Petrol price on Friday touched the Rs 88 per litre mark in Mumbai while diesel rates crossed Rs 77 as the potent combination of a depreciating rupee and rising crude oil rates continued to push fuel prices higher.

The upward march of fuel prices resumed Thursday with petrol price being hiked by 28 paise per litre and diesel by 22 paise. So now Petrol price in Mumbai climbed to Rs 88.67 per litre while diesel inched up to an all-time high of Rs 77.82. While on the other hand in Delhi, petrol now costs Rs 81.28/litre and diesel is priced at Rs 73.30 per litre.

According to oil companies, refinery gate price of petrol, without considering any central or state tax and dealer’s commission, is Rs 40.49 per litre. The same for diesel is Rs 44.32. Retail rates are arrived at after adding excise duty, which is charged by the Central government, commission paid to petrol pumps dealers and VAT, charged by the state governments. Dealer’s commission on petrol currently is Rs 3.34 per litre and that on diesel is Rs 2.52.

(Inputs from Agencies)