Diesel price surpasses petrol by more than rupee 1 in Delhi

A fuel pump attendant fills a motorbike with petrol at a gas station, as fuel prices continue to rise. (Photo: AFP)


State-run oil firms, including IOC, has further hiked diesel price by 17 paise on Saturday while keeping the prices of petrol unchanged.

Petrol prices have remained unchanged since June 29, diesel price was hiked yesterday and today as well. After today’s revision, petrol price in Delhi remained unchanged at Rs 80.43 and Rs 81.52 per litre for Diesel. In a rare occurrence, the price of diesel remains higher than petrol in the national capital.

Diesel has further extended its gain over petrol prices in the national capital with OMCs raising its price while keeping retail gasoline prices unchanged.

The retail rates of petrol and diesel in the country vary from state to state due to value added tax (VAT). The fuel prices are determined broadly by international oil rates and the rupee-dollar foreign exchange rate.

Unexpected rise in diesel prices for the past couple of weeks despite slower demand has made the transport fuel take the numero uno position in Delhi while substantially reducing the gap with petrol in other metros.

Last month, diesel prices overtook that of petrol in the national capital, in an unprecedented development.

Diesel was priced at Rs 81.52 per litre on Saturday in the capital, higher than the previous level of Rs 81.35 a litre. Petrol prices, however, remain unchanged at Rs 80.43 a litre, the same level as June 29 when it’s pump price rose marginally by 5 paise over previous days price.

Along with the Capital, diesel prices marginally increased in other metro cities as well but there the price of transportation fuel is still between Rs 6-8 per litre lower than petrol.

The Oil companies began daily revision of the two auto fuels from June 7 after keeping the price unchanged for 82 days during Covid-19 related lockdown. Since then petrol and diesel prices have increased by Rs 9.5 and Rs 11.5 per litre respectively.