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  1. Diesel prices are hovering at all time high, but you might not have noticed it

Diesel prices are hovering at all time high, but you might not have noticed it

Ever since the government came up with the daily-price-revision rule for the motor fuel based on the international product prices, diesel and petrol prices have been fluctuating on a daily basis.

By: | Published: January 3, 2018 11:33 AM
Oil, crude oil, fuel, Petroleum Exporting Countries, Donald Trump, Kim Jong Un Just talking about diesel, the prices have been consistently over Rs 59 per litre in the last ten days. 

Since the government came up with the daily-price-revision rule for the motor fuel based on the international product prices, diesel and petrol prices have been fluctuating on a daily basis. Just talking about diesel, the prices have been consistently over Rs 59 per litre in the last ten days. The prices hit a high of Rs 59.76 per litre on Tuesday. It was only once in October that the diesel prices breached the Rs 59-per-litre mark briefly. State-owned oil companies sold diesel to retail consumers for Rs 59.70 a litre in Delhi on Monday at the highest ever price in the city. In Kolkata and Chennai, diesel prices were the highest since September 2014. In Mumbai, prices were the highest since March 2017. The prices of petrol in Delhi, Mumbai, Chennai, Kolkata and many other cities were the highest since October 3, 2017, when the central government decided to slash excise duty by Rs 2 on petrol and diesel to shower some relief on the consumers. In the month of October, the government directed companies to stop monthly hikes in prices of cooking gas. Earlier the government effected monthly hikes with an aim to eliminate subsidy on cooking fuel.

Starting June 16 last year, petrol and diesel prices were decided to be changed on a daily basis. This move by the state-owned oil companies marked a departure from the earlier practice of fortnightly revisions of rates. Rates changed every day depending on any movement in international oil rates. Rates changed at 6 am every day depending on movement in cost on the previous day. The prices declared on a daily basis were applicable from 6 am to 6 am the next day. Rates varied from city to city as well as from petrol pump to petrol pump with Indian Oil Corp (IOC), Hindustan Petroleum Corp Ltd (HPCL) and Bharat Petroleum Corp Ltd (BPCL) deciding to follow a marginal differential pricing. Daily revision of retail selling price of petrol and diesel on pilot basis was implemented in Chandigarh, Jamshedpur, Puducherry District, Udaipur and Visakhapatnam from May 1. While petrol price was freed from government control in June 2010, diesel rates were deregulated in October 2014.

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  1. M
    manavalan
    Jan 4, 2018 at 11:08 am
    From frying pan to fire, bad enough Trump is messing things up and to leave that to face Modi and his chainomics , the mood here is pretty bleak with NPA figures nearing the total currency in cerculation
    Reply
    1. A
      Ashis
      Jan 4, 2018 at 8:13 am
      This BJP govt is very self centered and crafty. All should have noticed that until 2 week's to Gujarat election results the price was coming down everyday by 3 to 4 paise. Immediately afterwards it is increasing everyday by 8 to 10 paise. Anyone can check the statistics. Does the international price work on Gujarat election results??? People voted them to majority for a comfortable living and good governance but it is a anticlimax. The fuel and food prices are at all time high but all sitting mum and hoping it will come down. All of you will remember that during the earlier govt how bjp reacted during similar crisis. There was a media hype and Bandh and Strikes everywhere. But the sorrow state of affairs is that there is no one to stand up and point out to this government. The present government has become Dictators. Everyone is suffering silently. Media has no spine..
      Reply
      1. S
        Shahidullah
        Jan 3, 2018 at 6:22 pm
        67 $ a barrel , petrol n deisey prices R going up whereas during NDA rule 110$a barrel, petrol n DEISEL prices were aprix.60 rupees a litre. Govt won't let off people to lead a normal n tension free life..
        Reply

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