In A First, Diesel Costlier Than Petrol In Delhi, Price Hiked For 18th Day In A Row

Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. However in India diesel prices had been lower than petrol for last several years.

Diesel has become the most expensive transport fuel for the first time in a long time.

New Delhi: In an unprecedented development in the history of petroleum sector in India , the pump price of diesel has surpassed that of petrol in Delhi on Wednesday. Diesel prices witnessed a jump in its prices for eighteenth straight day on Wednesday, while Petrol prices witnessed no increase after 17 daily hikes. In Delhi today, Diesel is priced at Rs 79.88/litre after an increase of Rs 0.48, while petrol is priced at Rs 79.76/litre, making diesel the most expensive transport fuel for the first time in a long time. Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. However in India diesel prices had been lower than petrol for last several years, owing to the uneven taxation structure, due to which it attracted lesser of the tax, between the two auto fuels. Also Check: Mukesh Ambani Enters The World's Top 10 Richest Club, RIL First Indian Company To Touch M-Cap Of $150 Billion Interestingly, even in India the base price of diesel is expensive than petrol. According to the Indian Oil Corporation (IOC), while the base price of petrol in Delhi currently comes to Rs 22.11 per litre, the same for diesel is higher at Rs 22.93 per litre (effective from June 16, 2020). This has been the case for a long time, but retail price of petrol can be higher than diesel due to central and state taxes. Talking of Tuesday (yesterday) Petrol price was hiked by 20 paise per litre and diesel by 55 paise  as oil companies increased rates that took the cumulative increase to a steep Rs 8.5 and Rs 10.01 per litre, respectively. The 17th daily increase in rates, since oil companies on June 7 restarted revising prices in line with costs after ending an 82-day hiatus in rate revision, has taken diesel prices to record highs. Petrol price too is at a two-year high. Check price in some of the states: Delhi: Rs 79.88/litre Uttar Pradesh: Rs 71.13/litre Uttarakhand: Rs 71.45/litre Madhya Pradesh:  Rs 78.93/litre Punjab: Rs 72.17/litre Haryana: Rs 71.87/litre Rajasthan: Rs 80.21/litre Also Watch:Diesel becomes costlier than petrol in Delhi (inputs from agencies)