Petrol & Diesel Prices Constant after 21-day Hike

New Delhi: In a big relief for the common person, the uninterrupted raise in petrol & diesel costs had come to a suspend on Sun.

Fuel costs around the metros have been unchanged first time after cost hikes for 21 consecutive days. Petrol costs, although, have been unchanged for a day during the 21-day period after the daily revision on the basis of dynamic pricing has been reinstated.

Within Delhi, the petrol cost has been unchanged in INR 80.38 per liter on Sun. Cost of diesel also has been the same as Sat. in INR 80.40 a liter.

From the daily cost revision resumed on Jun 7, petrol cost has rised INR 9.12 & diesel rose by INR 11.01 within the Delhi. Within the different cities the magnitude of rise has been similar.

Similarly, petrol costs within the different metros of Mumbai (Bombay), Chennai & Kolkata have been unchanged in INR 87.14, INR 83.59 & INR 82.05 per liter respectively.

During this past 21 days, the quantum of cost hike steadily declined from about 60 paise rise for some days, immediately post the restart of daily cost revision, to under 20 paise during this past couple of days.

In a historical development (devt), the cost of diesel surged above that of petrol within the Delhi during the period. Although, petrol cost is presently just 2 paise far from that of diesel.

Authorities in oil marketing businesses stated that it’s tough to predict that of the 2 fuels going to be priced higher within the Capital as the gap between the 2 is almost negligible. However petrol costs have shown extra volatility in Intl. markets that may take (2) it ahead once again in coming days.

Aside from Delhi(DL), the retail costs of petrol & diesel have followed the traditional path in different metros with petrol being priced in a premium of between INR five & eight per liter. The difference between the auto fuel costs in Delhi(DL) & different metros is due to the taxation structure.

Awhile both petrol & diesel are in similar levels of taxes (state & center) in Delhi(DL), it’s higher for petrol in numerous different Indian cities.

World-wide diesel is priced a tad higher than petrol. In India(In) too, the base cost of diesel is slightly higher than petrol however taxation in central & state levels turned the complexion of retail costs.

In case the cost of petroleum products & crude hold their own positions in global markets, afterwards petrol & diesel costs raise may block for a longer period & we may even watch marginal fall in costs.

Fuel costs were rising from Jun Seven when oil businesses started the daily cost revision process after a hiatus of 82 days during this lock-down.