With India’s oil marketing companies recently introducing daily revision in petrol and diesel prices, and with the global crude oil prices simultaneously in a free fall, some might cheer the prospects of a sustained easing of retail fuel prices. Indeed, in the first 13 days that the dynamic pricing has been in practice in India now, retail fuel prices either only fell on most days, or remained unchanged on the other days. There has not been a single increase in petrol and diesel prices so far since July 16, when the daily revision in retail fuel prices began nationwide.
The price of petrol fell by Rs 3.45 per litre in Delhi in 13 days, beginning with the biggest cut of Rs 1.43 per litre (including state taxes and levies) June 16 itself, when petrol price was reduced by after a gap of 15 days, as was the existing practice. Similarly, price of diesel fell by Rs 2.41 per litre in 13 days, including a cut of Rs 1.45 per litre (including state taxes and levies) on June 16 itself. Today (6 am Wednesday-6 am Thursday) petrol is being retailed for Rs 63.46 per litre and diesel for Rs 53.53 per litre in Delhi. Read More…
Credit By : The Financial Express
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