Mumbai: Petrol and diesel prices drop by Rs 1.77 and Rs 1.66

Did you know that Mumbaikars pay the most for petrol and diesel in the country? Well, here’s some good news – your ride around the city could now become cheaper

Mumbai petrol prices
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Did you know that Mumbaikars pay the most for petrol and diesel in the country? Well, here’s some good news – your ride around the city could now become cheaper. With the latest decision by the Union Government to withdraw the state specific surcharge (SSS) on fuel, it is likely that fuel prices will drop.

In a report by the Times of India, the state government announced that they were getting rid of the surcharge which would result in the drop in prices of diesel and petrol by Rs 1.35 and 60  paise respectively. The drop in price is likely to take effect from Tuesday.

The changes and reduction in global crude prices would lead to a drop in various taxes and surcharges making the actual drop in prices Mumbai was Rs 1.77 and Rs 1.66 per liter on petrol and diesel

This comes after the implementation of GST. Where the various octroi nakas were shut, making it cheaper for Oil companies to transport petrol and diesel into a city. Interstily, an Oil company charges a customer to recover the cost of paying octroi and municipal corporations in a particular city. With the GST in place none of these costs have to be borne by a company and in turn by the customer.

In a statement to The Times of India, Ravi Shinde from the Petrol Dealers’ Association said that the price of petrol was Rs 75.04 on Monday and it has now dropped to Rs 73.27. The diesel prices have gone down to  Rs 58.27 per litre from Rs 59.93 per litre. Uday Lodh of Federation of All-Maharashtra Petrol Dealers' Associations,  said, “The price reduction would benefit all cities and towns that charged octroi on fuel. But for Mumbai and Maharashtra, the quantum of relief is bigsince the amount of surcharge on fuel against octroi payment was higher in cities of Maharashtra than anywhere else in the country.”

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