Diesel price rises for 19th day, remains higher than petrol in Delhi

Diesel price rises for 19th day, remains higher than petrol in Delhi

New Delhi: Transport fuel diesel prices continued its roll on Thursday, surpassing Rs 80 per litre mark in Delhi with oil marketing companies raising its prices on the 19th consecutive day.
Diesel is now priced at Rs 80.03 per litre in the Capital, higher by 14 paise over its Wednesday price when it surpassed the pump price of petrol in Delhi for the first time ever. The fuel price remained higher than petrol by 10 paise even on Thursday.
Along with diesel, petrol prices have also risen, a tad higher at 16 paise taking its pump price in Delhi to Rs 79.92 a litre.
The good news is that the quantum of fuel price increase has fallen for the last couple of days from a high of 60 paise per day to less than 20 paise on Thursday. If the price of petroleum products and crude continue its recent slide in the global markets, then petrol and diesel prices can actually start falling soon.
The Thursday’s fuel price hike is the 19th consecutive day of revision of pump prices. Only on Wednesday, petrol price was not increased by the OMCs. Fuel prices have been increasing since June 7 when oil companies began the daily price revision mechanism after a hiatus of 83 days during the lockdown.
Prices of transportation fuel were last revised under the dynamic pricing policy on March 16 and there were a few instances of price hike later only when the respective State governments hiked VAT or cess.

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