Diesel Costs More Than Petrol (Historical Price Rise)

First time in history of decades after what used to have a price difference of nearly Rs 30, the price of diesel has surpassed the price of petrol in the National capital on Wednesday, making it the most expensive transport fuel.

Marking a price hike for the 18th day in a row, the price of diesel was increased by Rs 0.40 per litre to Rs 79.88 today, while petrol rate remained unchanged at Rs 79.76 per litre.

24 June 2020 - Diesel 79.88 / Petrol 79.76

Meanwhile, in Mumbai petrol prices have increased to Rs 86.54 per litre, while diesel costs Rs 78.22. In Kolkata, petrol is retailing for Rs 81.45 per litre and diesel at Rs 75.06; and in Chennai, petrol is being sold at Rs 83.04, whereas diesel at Rs 77.17 per litre.

Notably, the price of petrol has hiked by Rs 9.41 per litre and diesel prices have increased by Rs 9.58 per litre since the country’s key oil companies (OMCs) resumed daily revision of rates under the first phase of ‘Unlock’. Oil firms had been deregulated in April as a result of the coronavirus-infused nationwide lockdown.

The development has been highly criticised by the opposition parties and is also being seen with caution by automobile companies who have spent millions to ramp up their facilities for diesel-run vehicles.

The demand for diesel-fueled cars, that had gained popularity especially in commercial vehicles, is now expected to fall, causing more damage to companies where sales are already impacted due to persistent economic slowdown and now the spread of COVID-19 pandemic.