Midnight cramp: With effect from 12 am, petrol price hiked by Rs 5 a litre
Midnight cramp: With effect from 12 am, petrol price hiked by Rs 5 a litre
Be ready to shell out more cash for petrol. State-owned oil companies are raising petrol prices in India, and Mumbai will have to pay as much as Rs 5.25 more per litre. This is the ninth hike in petrol prices since June 26, 2010 and came into effect from May 14 midnight.
Motorists queue up at a petrol pump in Prabhadevi to tank up their
vehicles on Saturday, before the petrol fare hike came into effect.
Pic/Satyajit Desai
According to the oil companies, the hike was inevitable, with crude oil prices reaching a two and a half-year high of $115 per barrel. As per the new hike, petrol in Delhi will now cost Rs 5 more, Rs 5.29 more in Chennai and Rs 5.21 more in Kolkata.
While the rise in petrol prices is going to have a domino effectu00a0 and increase the prices of many products, AL Quadros, head of the Taxi Union in Mumbai, said the new hike won't lead to an increase in Mumbai's taxi fares. "Almost all our taxis run on CNG. So, it will not affect us in any way. Also, I don't see any hike in CNG prices in the near future because the price of CNG was increased by Rs 6.5 per kg last June."
However, Thampy Kurian, head of Auto Rickshaw Union in Mumbai, said the new hike may result in a revision of auto rickshaw fares. The BJP criticised the hike in petrol price and alleged that the "anti aam-admi" government was waiting for the assembly elections to fold up to make the announcement. BJP spokesperson Shahnawaz Hussain described the price hike as a "gift" from the government.
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