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Petrol and diesel prices across India have been witnessing a consistent hike over the past couple of weeks. Amidst the consistent hike in prices on a daily basis, diesel prices in Delhi have for the first time become more expensive than petrol.
Diesel prices in Delhi today (24th of June 2020) stand at Rs 79.88/litre. This is after receiving a small hike of Rs 0.48 compared to the previous day. This increase in diesel prices has made it more expensive than petrol which stood at Rs 79.76/litre for the day.
Fuel prices across India have constantly been changing on a daily basis. Prices of both petrol and diesel have been increasing consistently since the 7th of June 2020. The price hike being witnessed is the highest increase in the past two years.
The consistent increase is said to be a result of oil companies taking a decision to revise prices of fuel on a daily basis. Sale of fuel in India had dropped drastically since mid-March 2020 when the COVID-19 pandemic put the entire country under lockdown. However, since mid-May demand for fuel has been on the rise, as the government did bring in some relaxations to the lockdown regulations, allowing businesses to restart.
According to previous reports, during the lockdown period demand for petrol and diesel had fallen by 61 per cent and 56.7 per cent, respectively. Demand for Jet Fuel faced an even severe decline of over 91%, as both domestic and international flight operations were shut down as well.
Apart from Delhi, petrol and diesel prices in Bangalore stand at Rs 82.35/litre and 75.96/litre, respectively. Many other cities across India have also been facing similar price hikes in fuel on a daily basis — find out the fuel prices of your city here.
Thoughts About Diesel Prices Being Higher Than Petrol In Delhi
Sales and demand for fuel in India suffered by a massive margin during the two and half months of lockdown period across the country. Now, with operations and businesses reopening and more people getting back to travelling, demand is said to revive back to normal very soon.