Tuesday, August 09, 2022

With rising diesel prices more trouble for transport sector

By IANS Updated: Jul 13, 2020 6:53 pm

New Delhi, July 13 (IANS): Unexpected rise in diesel prices despite slower demand has put the transport sector at a big disadvantage as rising fuel cost has further shrunk its margins.

With 11 paise hike in diesel price in New Delhi on Monday while petrol prices remained steady, the gap between the two auto fuels has further widened in the national capital. Last month, diesel prices overtook that of petrol in the national capital in an unprecedented development.

Diesel was priced at INR 81.05 per litre on Monday in the capital, higher than the previous level of INR 80.94 a litre. Petrol prices, however, remained unchanged at INR 80.43 a litre, the same level as June 29 when it’s pump price rose marginally by five paisa 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 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 last 82 days during Covid-19 related lockdown. Since then petrol and diesel prices have increased by INR 9.5 – INR 11.5 per litre respectively. Last week petrol and diesel prices remained unchanged for four days before diesel prices increasing on Sunday and again on Monday.

By IANS Updated: Jul 13, 2020 6:53:35 pm