The price of petrol and diesel have gone up to ₹10 per litre in June. On Sunday, the price of petrol in Mumbai went up to 34 paise to ₹86.04 per litre. The price of diesel has also gone up by 58 paise on Sunday and was sold at ₹76.69 per litre.
This continuous hike in the prices of petrol and diesel have affected the regular citizens travelling to their workplaces. Especially since the city of Mumbai has still not opened its local train for the regular residents to safeguard its citizens. This hike has mostly affected the office goers who have resumed work recently. Many transporters fear that they might have to shut down operations if the prices continue to rise in a similar fashion.
The everyday hike in these oil prices is helping the state of Maharashtra by adding ₹700 crores to the state exchequer as value-added tax (VAT). As per a senior official in the city, ₹1 increase in petrol and diesel prices gives the state an additional VAT of ₹140 crores and ₹275 crores, annually. This means that the recent hike in petrol and diesel prices is expected to add approximately ₹700 crores to the exchequer. The lockdown which was imposed across the country to prevent the spread of the coronavirus has in a way broken the shackles of the already worsening economy. According to sources, the lockdown has said to have reduced the government revenue. Earlier, the government had increased the retail price of petrol to ₹80.01/litre (increase by 52 paise) and diesel rate is ₹69.92/litre (increase by 55 paise) in the city.
In Mumbai, there are 243 operational petrol pumps out of which 223 pumps are run by dealers while 20 are company-owned. The business for these pumps had been slow during these lockdown days. However, with the relaxations, the business has increased in Mumbai.
Share
Tweet
