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LATEST NEWS UPDATES | Diesel price hits all-time high, petrol prices highest in over 4 years -Sumant Banerji

Diesel price hits all-time high, petrol prices highest in over 4 years -Sumant Banerji

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published Published on Apr 1, 2018   modified Modified on Apr 1, 2018
-BusinessToday.in

Prices of diesel hit an all-time high of Rs 64.40 per litre in Delhi, while petrol prices were at Rs 73.55, highest in over four years. The last time petrol prices were higher was in September 2013 when it was Rs 76.06 per litre in the city.

In a bid to bring in transparency in pricing of fuels, the government had changed the fortnightly revision of prices to a daily routine in June 2017. Since then prices of petrol at the pump have gone up by over 12 per cent, while for diesel the increase has been even steeper at over 18 per cent. At the same time, prices of crude oil for the Indian basket has shot up by over 63 per cent. Oil marketing companies have been able to somewhat cushion the increase due to the appreciation of the Indian currency against dollar. India imports nearly 82 per cent of its crude oil requirement every year and currency fluctuation plays a major role in pricing of the fuels at the retail level.  

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Business Today, 31 March, 2018, https://www.businesstoday.in/sectors/energy/diesel-price-hits-all-time-high-petrol-prices-highest-in-over-4-years/story/273772.html


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