Petrol prices rise again, increases gap with diesel
New Delhi, August 18, 2020
Petrol prices have risen again in the country increasing their gap with diesel as global oil market flipped, turning the cycle of price rise in favour of gasoline.
In the national capital, petrol prices rose for the third consecutive day on Tuesday by 17 paise to Rs 80.90 a litre. Pump prices of petrol rose by 14 paise a litre on Sunday, breaking a 47-day pause since June 29.
This was even as diesel prices, which maintained a regular increase since late June, are holding the retail price line for the last two weeks.
Sources in oil marketing companies said that international petrol prices were on a boil now, resulting in the revision of its prices while diesel remained steady.
In India, diesel consumption in August has witnessed a slowdown in a clear indication that economic activity remained muted during the COVID-19 pandemic.
The latest price hike comes at a time when crude oil prices have been rising and the Brent crude is trading around $45 per barrel.
Price of petrol in the other key metros were also revised upwards on Monday.