Petrol Prices on the Rise While Diesel Rates Remains Steady as Economic Activity Remains Muted

After a long pause, it's now the turn of petrol to face a regular increase in retail prices while diesel prices are remaining steady.

In the national capital, petrol prices rose for the second consecutive day by 16 paise to Rs 80.73 a litre. Pump prices of petrol have risen 14 paise a litre on Sunday breaking from a 47-day long pause since June 29.

This even as diesel prices, which has maintained a regular increase since late June, are now holding on to the retail price line for last two weeks.

Sources in oil marketing companies said that international petrol prices were on a boil now resulting in revisions on its prices while diesel remained steady.

Even in India, diesel consumption in August has witnessed a slowdown in a clear indication that economic activity remains muted during Covid-19 pandemic.

The latest price hike comes at a time when crude oil prices have been rising and the Brent crude is trading around $45 per barrel.

Price of petrol in the other key metros were also revised upwards on Monday.