Mumbai, Jan 26: As India celebrates the 69th Republic Day, motorists across the nation continue to face the brunt of spiralling fuel prices, with the per litre cost of petrol in Mumbai reaching Rs 80.50.
Apart from Mumbai, the brunt of fuel prices would also be felt in Chennai and Kolkata, where the petrol rate has jumped to Rs 75.19 and Rs 75.18 respectively. Whereas, the price of diesel climbed to Rs 66.20 and Rs 67 in the two cities, respectively.
The overall increase in petrol price, in Mumbai region, for the month of January so far is around Rs 3.49, as the rate on December 31 was Rs 77.87.
In Kolkata, the rate of petrol as of December 31 was Rs 72.72. In the past 25 days, the fuel price went up by Rs 2.47.
Here is the city-wise rate of petrol for January 26, 2018 in the four metros:
The revised petrol rate in other state capitals:
The primary reason for the fuel price hike is the resurrecting global rate of crude oil. After the slump 2014-15, 2015-16, the crude oil sector has recovered, with the current price hovering of brent crude oil hovering around $70 per barrel mark. On Thursday, the price stood at $71. On the other hand, it had slumped to as low as $25.63 per barrel in January, 2015.
Motorists recall 2013 fuel rate surge
The maximum brunt of fuel rate hike, over the past decade, was felt by motorists in 2013. The petrol prices had peaked to a maximum of Rs Rs 83.62 on September 14, 2013, continued to hover around Rs 81 for the remainder of that year.
The brent crude oil price had then struck the $128 per barrel mark. Meanwhile, the international price of crude oil reaching $71 mark has led to a surge in the petrol rate to as high as Rs 80.50.
"This is the same kind of hike which frustrated us in 2013. Using a private vehicle will seem to be an unaffordable option for some people till the petrol prices do not come down, as they were till six months ago (Rs 74 on July 26 in Mumbai)," said Akshay Kohli, who runs a bike-servicing centre in the city.