Don't travel in Mumbai; petrol costs Rs 63/ltr

Mumbai, Jan 16: Mumbai is known as the most happening city in the country and people love to travel all around the city. But a real setback to all commuters occurred as state-owned oil companies raised petrol prices by Rs 2.50-2.54 per litre from Saturday (Jan 15) night. In Mumbai, the base of Bollywood, now petrol costs around Rs 63 per litre.

Indian Oil Corp, the nation's largest fuel retailer, raised petrol prices by Rs 2.50 per litre with effect from Saturday midnight, while Hindustan Petroleum Corp Ltd (HPCL) hiked rates by Rs 2.54 a litre.

Bharat Petroleum Corp, the third state fuel retailer, raised the price by Rs 2.53 per litre with effect from the same time.

The three firms from on Dec 15-16 raised petrol prices by Rs 2.94-2.96 per litre, the biggest hike in six months.

Petrol at IOC outlets in Delhi which cost 55.87 per litre on Saturday, is now priced at Rs 58.37 a litre.

The fuel at HPCL and BPCL pumps would be sold at Rs 58.39 per litre.

The official said the increase follows international crude oil prices climbing to USD 92 per barrel.

The state-run retailers are deliberately adopting marginally different rates to avoid being accused of acting as a cartel in the free market.

The reason behind this second fuel price hike in the consecutive month is believed to be the rising crude oil prices in the international market.

OneIndia News
(With inputs from PTI)