Petrol almost at Rs 91 in Mumbai

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Strategic petroleum reserve to be set up in Odisha.

Fuel prices are continuing on their record-breaking upward movement with petrol inching closer to Rs 91 a litre mark in Mumbai on Sunday.

In the country’s financial capital, petrol costs Rs 90.84 per litre, up from Rs 90.75 on Saturday, data on the Indian Oil Corp website showed.

Petrol prices in the other key cities of Delhi, Kolkata and Chennai on Sunday were Rs 83.49, Rs 85.30 and Rs 86.80 per litre respectively — all new levels — higher than the respective previous high of Rs 83.40, Rs 85.21 and Rs 86.70 the previous day.

With petroleum still excluded from the GST regime, prices vary according to local taxes. Delhi has lower tax among the four major metros.

The increase in transport fuel rates comes amid surging crude oil prices. Currently, Brent crude oil is priced around $83 per barrel.

Sector experts also attribute the high domestic fuel prices to the high rate of excise duty across the country.

In tandem with petrol, cost of diesel also rose to hit new highs on Sunday.

Prices of the fuel in Delhi, Kolkata, Mumbai and Chennai were Rs 74.79, Rs 76.64, Rs 79.40 and Rs 79.08 a litre respectively, up from the Saturday’s Rs 74.69, Rs 76.48, Rs 79.23 and Rs 78.91 respectively.