After the fresh increase, a litre of diesel in Delhi will cost Rs 79.88 while the price of petrol remains the same at Rs 79.76. Rates of both fuels are expected to cross Rs 80-mark in Delhi soon as OMCs keep revising prices upwards.
It will now cost more than petrol in Delhi after the prices unexpectedly hiked by 48 paise on Wednesday after a fresh revision by oil marketing companies (OMCs). There has been no change in the petrol price.
After the fresh increase, one litre of the fuel in Delhi will cost Rs 79.88 while price of petrol remains the same at Rs 79.76. Rates of both fuels are expected to cross Rs 80-mark in Delhi soon as OMCs keep revising prices upwards.
The fresh hike in diesel price:
The fresh hike in diesel price comes even as international crude futures slid on Wednesday. However, there is optimism in the international oil market and rates could see a rebound soon. If that happens, petrol and diesel rates in India will continue to rise.
It may be noted that both petrol and diesel prices have been hiked in India in the range of Rs 8-10 per litre already.
The daily rise in fuel rates in India started from June 7 after an 82-day gap in the wake of the coronavirus lockdown. The daily revision was paused soon after the central government increased excise duty sharply.
Some states have sharply increased VAT rate as well, which has led to an even bigger spike in petrol and diesel rates. IndiaToday.in reported yesterday why the successive hikes since June 7 are different.
Meanwhile, many opposition parties including Congress have slammed the government for the unabated rise in fuel prices in the country.
Congress interim president Sonia Gandhi had even penned a letter to Prime Minister Narendra Modi urging the government to check fuel prices.
In Madhya Pradesh, where petrol and diesel rates are one of the highest in the country, the state Congress unit has planned a protest against the high petrol and diesel rates.
However, if experts are to be believed, petrol and diesel rates are expected to rise further in India in the wake of the economic downturn.