Diesel prices surpass all records, petrol holds ground

New Delhi, July 20 (IANS): Unexpected rise in diesel prices despite slower demand has extended the gain for the transport fuel over petrol in Delhi.

With a 12 paise hike in diesel price in New Delhi on Monday while petrol prices remaining steady, the gap between the two auto fuels has further widened in the national capital. Last month, diesel prices overtook that of petrol in Delhi, in an unprecedented development.

Diesel was priced at INR 81.64 per litre on Monday in the national capital, higher than the previous level of INR 81.52 a litre. Petrol prices, however, remain unchanged at INR 80.43 a litre, the same level as June 29 when its pump price rose marginally by 5 paise over previous days price.

With this, diesel is now over a rupee higher than petrol, overturning the advantage of running a vehicle on the fuel. With the price trends in diesel, it may soon catch up with petrol prices in other metros as well.

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

Oil companies began daily revision of the two auto fuels from June 7 after keeping the price unchanged for 82 days during Covid-19 induced lockdown. Since then petrol and diesel prices have increased by INR 9.5 and INR 11.5 per litre respectively. Last week petrol and diesel prices remained unchanged for four days before diesel prices started increasing on Sunday and again on Monday.