Diesel and petrol price hike continues as oil companies look to maintain profitability. Crude at low levels…
If you own a two-wheeler or a four-wheeler, you might have already noticed that fuel prices are constantly on the rise again. Petrol prices have crossed that Rs 90 per liter barrier in many cities like Bhopal for the first time ever.
The three top fuel companies – Indian Oil, Hindustan Petroleum, and Bharat Petroleum have raised fuel prices multiple times since November 20, 2020. As of today ie 7th December 2020, petrol prices in the Maharashtra’s capital stand at ₹90.34.
Meanwhile, the prices of diesel are also going up, and the difference between petrol and diesel prices is only diminishing. Diesel is priced at only ₹9.83 lesser than petrol in the city, as it has also crossed that ₹80 per liter mark (it is priced at ₹80.51 per litre).
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If you expect the prices to go down in the near future, you will be disappointed, as there are no major elections round the corner and petroleum companies also look to protect the automotive fuel marketing margins and maintain their profitability. It must be noted that global crude oil prices are at very manageable levels of around US $40-45 per barrel.
-Moin Ahmed
Source: NDTV Auto
