Petrol and diesel prices come upto a hold after Tuesday's cut


The above image is taken from Hindustan Times.


Petrol prices held steady everywhere in the country on Thursday, for the second consecutive day after Tuesday's cut. within the capital Delhi, petrol rates are at Rs. 90.56 per liter and diesel continue to retail at Rs. 80.87 per liter. In Mumbai, petrol and diesel prices remained at ₹96.98 and ₹87.96.

Domestic prices for gasoline and diesel vary from state to state because of various taxes and levies imposed by various state governments. Currently, Mumbai has the best retail prices for gasoline and diesel. Central and state taxes account for 60 percent of the retail price of gasoline and over 54 percent of diesel.

There may well be more excellent news for consumers of Petrol and Diesel as the outlook for fossil fuel remains weak. Expert Anuj Gupta, vice-chairman (VP), Commodity and Currency Research at IIFL Securities said that the costs of fossil oil could further come down in the near term. Any major correction in petroleum prices could trigger some correction in Petrol and Diesel prices.

In the capital, diesel prices have fallen by 13 paise per liter on Saturday, bringing down the transport fuel price to Rs 73.27 a liter. the value of diesel also fell on Thursday by 16 paise per liter. The fuel prices remained at an identical level thus far this month. But petrol prices are rising regularly since August 16, when they stood at Rs 80.57 a liter in Delhi. The price of fuel may remain steady or fall in the coming days as global crude prices have shown some indication of softening over expectation of a chronic demand squeeze over Covid-19 disruptions.


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