Petrol prices on rise again

New Delhi, Aug 18 (IANS) Petrol prices have risen again in the country improving its gap with diesel as global oil market flipped turning the cycle of price rise in favour of gasoline.
In the national capital, petrol prices rose for third consecutive day on Tuesday by 17 paisa to Rs80.90 a litre. Pump prices of petrol rose by 14 paisa a litre on Sunday breaking a 47-day pause since June 29.
This was even as diesel prices, which maintained a regular increase since late June, was now holding on to the retail price line for the last two weeks.
Sources in oil marketing companies said that international petrol prices were on a boil now resulting in revision 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 remained 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.

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