The inexorable rise of fuel prices continues and the prices of petrol and diesel have hit their highest yet in Mumbai. And elsewhere in the country too. Diesel, once touted as the ‘common man’s fuel’, has crossed the Rs 90-a-litre mark for the first time – today’s price is Rs 90.11 a litre. And petrol, at Rs 98.65 a litre is just Rs 1.38 shy of the Rs 100-a-litre mark, albeit this has already been crossed in some regions of Rajasthan.
Given that the price increase in a petrol litre in the past 10 days has been Rs 1.53, if the trend in price hikes continues, Mumbai motorists could be tanking up on Rs 100 a litre petrol by the end of this month.
In comparison, the 10-day hike in diesel has been steeper – Rs 1.92 a litre – which must be wrecking havoc with the business models of commercial fleet operators. What’s more, since scores of small CVs and M&HCVs are engaged in transporting essential goods and the like, there is a direct impact on inflation.