Reportedly diesel will now cost more than petrol in delhi after it was hiked by 48 paise on wednesday after a fresh revision by oil marketing companies (OMCs). There has been no change in petrol price. Reportedly after the fresh increase, a litre of diesel in delhi will cost Rs 79.88 while price of petrol remains the same at Rs 79.76. Rates of both fuels are expected to cross Rs 80-mark in delhi soon as OMCs keep revising prices upwards.

Meanwhile the fresh hike in diesel price comes even as international crude futures slid on Wednesday. However, there is optimism in the international oil market and rates could see a rebound soon. If that happens, petrol and diesel rates in india will continue to rise. It may be noted that petrol and diesel prices have been hiked in india in the range of Rs 8-10 per litre already and the daily rise in fuel rates in india started from june 7 after a 82-day gap in the wake of the coronavirus lockdown. The daily revision was paused soon after the central government increased excise duty sharply.

Some states have sharply increased VAT rate as well, which has led to an even bigger spike in petrol and diesel rates. Meanwhile, many opposition parties including india NATIONAL CONGRESS' target='_blank' title='congress-Latest Updates, Photos, Videos are a click away, CLICK NOW'>congress have slammed the government for the unabated rise in fuel prices in the country. Perhaps india NATIONAL CONGRESS' target='_blank' title='congress-Latest Updates, Photos, Videos are a click away, CLICK NOW'>congress interim president sonia gandhi had even penned a letter to prime minister narendra modi urging the government to check fuel prices.