Domestic petrol and diesel prices are lagging by up to Rs 8 per litre in the absence of any hike in the prices to reflect the changes globally, since the announcement of state elections in December last year, domestic rating agency ICRA said in a report on Friday.
The estimated lag of Rs 6-8 per litre in the selling prices of the fuels, whose prices are officially decontrolled, is the same as the incremental excise duty being paid by customers since the hikes during the pandemic to take care of government revenues amid a sharp slide in crude, it said.
