Petrol prices continue to rise; Rs 89.80 in Mumbai

23 Septembre, 2018, 05:09 | Auteur: Auguste Feret

Petrol prices continued the upward movement across the metro cities on Saturday with the cost inching closer to the Rs 90-per-litre mark in Mumbai.

In contrast to petrol, prices of diesel were unchanged on Saturday for the fourth consecutive day. Brent crude oil is now priced around $78.80 per barrel. Meanwhile, in New Delhi, petrol is selling 12 paise higher at Rs 82.44 per litre, while diesel continues to be sold at Rs 73.87 per litre.

Meanwhile, in Mumbai, where the fuel cost is highest due to the highest Value-Added Tax, petrol prices inched up to the psychological Rs 90 a litre-mark and sold at Rs 89.80 per litre.

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Petrol prices have been hiked by Rs 6.01 per litre and diesel prices by Rs 6.05 per litre since 1st August in Delhi.

Global oil prices were little changed on Friday after falling in the previous session as US President Donald Trump urged OPEC to lower crude prices at its meeting in Algeria this weekend, Reuters reported.

Amid rising fuel prices, the Maharashtra government is considering increasing excise duty on Indian-made foreign liquor (IMFL), so as to create a buffer for slashing taxes on petrol and diesel, PTI reported. The reduction came in to effect from September 18.

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