NEW DELHI: Petrol and diesel costs persevered to upward push during the fortnight with the 2 auto fuels getting costlier by means of 51 and 61 paise according to litre respectively on Saturday.
This is the 14th day of fuel price rise since June 7 when oil companies started the day-to-day value revision mechanism after a hiatus of 83 days all through the lockdown.
With the latest increase, petrol is being retailed at Rs 78.88 according to litre and diesel at Rs 77.67 a litre in Delhi. This is a rise of Rs 7.62 according to litre in the cost of petrol since June 7. Similarly, diesel costs have long past up upper by means of Rs 8.28 according to litre all through the 24 day length.
The excellent news is that the automobile gas value upward push would possibly both forestall or the quantum of building up may fall within the coming week as oil firms have now priced the goods nearer to the global benchmark charges. There may well be days when costs aren’t modified by means of the oil firms.
Sources in oil advertising and marketing firms, then again, mentioned that value upward push may proceed for few extra days as international product costs are toning up with a select up in call for following opening up of economies around the globe submit Covid-19 similar lockdown. Even international crude costs have greater than doubled from April ranges to over $ 42 a barrel stage.
Also, OMCs are catching up at the value ranges that carry the product costs nearer to global benchmark charges. The value freeze of 83 days, even with a considerable building up in excise responsibility on petrol and diesel by means of the Centre, has larger the cost hole leading to losses on sale of product for the OMCs.
Prices of transportation gas have been ultimate revised below the dynamic pricing coverage on March 16 and there have been few cases of value hike later most effective when the respective state governments hiked VAT or cess.

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