Petrol prices hit new high, Rs 88.39 per litre in Mumbai: Check today’s rate

New Delhi, Sep 13: Petrol prices soared to fresh record high on Thursday across the four metros. The revised rates are applicable from 6 am from today. Both petrol and diesel prices have been at their all-time high in the country for around a week now, due to increase in crude oil prices and depreciation in the rupee against the dollar. Weakening of the Indian rupee makes the import of crude oil expensive.

Petrol at Rs 81.00/litre (increase by Rs 0.13/litre) and diesel at Rs 73.08/litre (increase by Rs 0.11/litre) in Delhi. Petrol at Rs 88.39/litre (increase by Rs 0.13/litre) and diesel at Rs 77.58/litre (increase by Rs 0.11/litre) in Mumbai.

At least three state governments have so far provided some respite to consumers by reducing VAT, which varies from state to state. Rajasthan has cut petrol and diesel prices by Rs 2.5 per litre, Andhra Pradesh by Rs 2 and West Bengal by Re 1.

The central government has already signalled that it will not cut excise duty, a key component of the retail price of fuel. Global crude oil prices and the rupee's exchange rate are to be blamed for rising fuel prices. US WTI crude futures are trading close to $70 a barrel while Brent crude futures are at $79.30 a barrel.