Petrol prices approach Rs 90 in Mumbai as rupee slips past 72 once again

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There does not seem to be any respite for domestic consumers in India as the retail prices of petrol and diesel continued to skyrocket in India even on Monday. The price of petrol nearly touched the psychological Rs 90 per litre mark in Mumbai. The retail price of one litre petrol in Mumbai on Monday reached Rs 89.44.

petrol

Rates released by the government-owned Indian Oil Corporation said that the depreciating rupee and expensive crude oil were responsible for pushing petrol and diesel to new record highs on Monday.

Meanwhile, petrol in Delhi, which is cheapest among the four metros due to lower taxes, crossed Rs 82, reaching Rs 82.06 per litre, while it increased in Kolkata and Chennai to Rs 83.91 and Rs 85.31, respectively, reported IANS.

Diesel prices too were not far behind as they rose in Delhi and Kolkata to Rs 73.78 and Rs 75.63 per litre, respectively. The same was being sold at Rs 78 and Rs 78.33 per litre in Chennai and Mumbai, respectively, on Monday.

Fuel prices in the country have been rising almost daily since August 1. They fell only once on August 13 and have been on record levels for over two weeks now. Even the staunch supporters of Prime Minister Narendra Modi feel that the rising fuel prices could cost him dearly in the next Lok Sabha polls next year.

Speaking at an event organised by NDTV on Sunday, Patanjali founder Ramdev, had hoped that Modi will bring down the prices since his inability to do so will cost him dearly in 2019.

Meanwhile, the value of rupee too depreciated against the dollar on Monday, slipped past 72 once again. Both these issues had formed the key part of Modi’s election campaign in 2014 Lok Sabha polls.

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