Fuel prices hit 55-month high: Rs 81.92 for a litre of petrol, Rs 69.50 for diesel

Motorists tanking up in Mumbai today would have got lesser fuel for the same money they paid a fortnight, or even a week, ago. The price of petrol has hit Rs 81.92 for a litre in the financial capital, the highest the fuel has cost since September 14, 2013 when it cost Rs 83.62 per litre.  

In 2014, the highest price that petrol had scaled was Rs 82.07 per litre. The lowest prices that motorists paid – and happily at that – was Rs 62.75 a litre on March 10, 2016. After this date though, as per Autocar Professional’s analysis of fuel prices in the past two years, petrol prices never fell below Rs 65 a litre, continuously marching upwards.

The year 2017 began with petrol being priced at Rs 76.91 a litre and ended at Rs 77.87 a litre with the highest being Rs 79.99 a litre on October 3, 2017. The lowest price at which the fuel was sold last year was Rs 72.66 a litre on April 1, 2017.

As of today, the price differential between the two fossil fuels is now Rs 12.40 a litre. 

Diesel no longer a delight
If you thought diesel vehicle owners are a happier lot when it comes to tanking up, then it’s worth doing a rethink. Today, in Mumbai, diesel costs Rs 69.50 a litre, the highest ever the ‘common man’s’ fuel has ever cost in India. The previous highest was Rs 67.26 a litre on August 31, 2014.  

On March 10, 2016, the price of diesel rate in Mumbai was Rs 53.06 a litre, rose to Rs 55.64 a litre on August 16, 2016 and from then on, Mumbai never bought diesel at Rs 55 to a litre. The price rally has now hit Rs 69.50 litre today, the highest ever recorded. Even in the other four key metros, today’s diesel price is the highest in their respective history with Delhi paying Rs 65.18 a litre, Kolkata Rs 67.88 and Chennai Rs 68.76.

In 2017, the lowest recorded rate for diesel in Mumbai was Rs 58.19 a litre and the highest was Rs 64.89 a litre at the start of the year.

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