Diesel and petrol prices rise paused
On Thursday price rise pause came not before the fuel rates have reached new highs across the country through the last two months. The petrol continues to be priced at Rs 98.81 a litre whereas the diesel at 89.18 a litre on Thursday.
The fuel prices were last revised on Thursday and remain unchanged now.
The price of petrol is now at Rs 98.81 a litre, rising by a sharp Rs 8.41 per litre in the last 60 days. The diesel rates also rose by Rs 8.45 per litre in the past two months to reach Rs 89.18 a litre.
All oil companies gave respite to consumers on Thursday, by keeping the price unchanged. The rates pause has come after rates have been revised upwards in 32 out of 61 days between May and June to take retail rates to new highs across the country.
The crude oil price is now around $75 a barrel. It was around $80 a barrel in October 2018 but even then the petrol prices hovered around Rs 80 a litre across the county. petrol prices have hit a century and also crossed it by a wider margin now in several parts of the country.
Fuel rates are touching new heights every day and the experts also believe that fuel prices might again rise in coming days and the only way retail prices could be brought down in this period is by way of tax cuts by both the Centre and the States.