Petrol prices reach record high: Rs. 86.25/liter in Mumbai
Over the past few months, petrol and diesel prices have consistently soared and, on Monday, prices touched a new high. The per liter price of petrol and diesel in Mumbai touched Rs. 86.25 and Rs. 75.12 respectively, marking the highest ever not just for Mumbai, but for all Indian metro cities. What's worse? Sources say that further price rises are expected. Here's more.
Prices are expected to rise owing to several factors
Owing to international fluctuations in crude oil prices, and the weakening of the rupee vis-a-vis the dollar, petrol and diesel prices are expected to climb higher on Monday. Notably, petrol and diesel prices are expected to touch Rs. 86.56 and Rs. 75.54 per liter respectively. The prices are bound to irk motorists who already face road congestion and resultant lowered mileages in India.
Transporters are understandably threatening to agitate
Transporters, who have been burdened with price hikes for a while now, have understandably threatened to agitate if the government does not take any steps to control and reduce the soaring prices. With more than 65% of operational costs of transportation being diesel, transporters have also threatened to raise freight rates by 10-15% if there's a further hike in diesel prices.
The government will be responsible for price hikes of essentials
"We will hold the government responsible for any hike in prices of essential commodities like vegetables and fruits. This is because for every hike in diesel rates, we will pass the burden to consumers," All-India Motor Transport Congress's Bal Malkit Singh, said to ToI.
Those who drive to work are also adversely affected
Meanwhile, the soaring prices are also burning a hole in the pockets of people who drive to work regularly. With most Indian metros facing traffic congestion issues in peak hours, motorists struggle to reach speeds of even 12kmph which, in turn, lowers fuel efficiency. For instance, compared to January, those driving 25-30km to work spend an extra Rs. 300 per month now, one-way.
