Diesel price hike is now getting sharper than that of petrol. Here’s why
NEW DELHI : Narrowing the rate gap between the two fuels, the price of diesel is now growing at a sharper rate than that of petrol. In the month of December, petrol price went up by just 28 paise a litre but that of diesel spiked by ₹2.18 a litre. Continuing with the trend, state-run fuel retailers hiked the price of petrol of 11 paise a litre today but for diesel it was 14 paise a litre.
In November, the situation was reverse when the price difference between petrol and diesel was widening. Petrol price was hiked by ₹1.94 a litre while diesel price went in the opposite direction with a decline of 7 paise.
Petrol is priced higher than diesel due to a difference in the international benchmark rate of the two automobile fuels. State-run fuel retailers, which announce new pricing daily at 6 am, take into account a fortnightly average of the international benchmark rate of petrol and diesel.
