For the First Time, Diesel is Costlier than Petrol in Delhi

One litre of diesel in Delhi will now require Rs 79.88 which is more than the petrol price at Rs 79.76 per litre. The rates are valid from 6 am (June 24)

Diesel prices were hiked by for the 18th straight day on Wednesday, while petrol rates were left unaltered in Delhi.

This is the first time that diesel will cost more than petrol in the nation capital.

The prices were raised by 48 paise. A litre of diesel in Delhi will now cost Rs 79.88 which is more than petrol price (Rs 79.76 per litre).

The rates are effective from 6 am (June 24), according to state-run Indian Oil Corporation.

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The price of petrol has been increased by a cumulative Rs 8.50 per litre, diesel by Rs 10.48 a litre in the national capital, respectively over the past 18 days.

According to papers, domestic rates of auto fuels are likely to surpass the Rs 80 per litre mark soon, in line with rising international oil prices.

Meanwhile, in other states, the fuel will also increase but diesel will continue to be cheaper due to lower taxes imposed by state governments, although the passage between the prices will contract further.

Because of the variation in international benchmark prices, petrol usually costs between Rs 5-8 more than diesel. The two fuels had a cost break of Rs 7.3 a litre in early May but their relation changed following excessive hikes in VAT on two fuels by the state government.

VAT on petrol was hiked to 30% from 27% while VAT on diesel was jacked up nearly twofold to 30% from 16.75% by the Kejriwal government.

Fuel charges have been increased across the country, ranging from state to state basis the rate of VAT (Value Added Tax), or local taxes.

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Petrol and diesel prices are charged by oil marketing companies such as the state-run Indian Oil Corporation daily, and any revision in rates is applied from 6 am in the morning.

The daily increase in fuel prices started on June 7 as oil marketing companies resumed the practice of revising the prices daily in line with costs after an 82-day hiatus from the same amidst the coronavirus pandemic.

International benchmark Brent crude climbed 1.74% at $43.83 on Tuesday.

Below stated are the prevailing petrol and diesel prices in metro cities (in rupees per litre):