Mumbai, Sept 11: Petrol prices in Delhi have risen by Rs 7 in over two months, while Mumbai is paying Rs 5 more than what was on July 1. In the wake of dynamic pricing of fuel that began on June 16, while petrol prices went down in the first fortnight, they have only risen since then. With changes in petrol and diesel prices every day under dynamic pricing, not many have realised that they are now paying much higher than what they were paying for fuel on June 16. Kolkata and Chennai, too, are paying Rs 7 more than what they were paying for petrol on July 1. The prices are also on a 3-year-high.
The price of petrol has crossed Rs 70 per litre in Delhi and is nearing Rs 80 per litre in Mumbai. On the other hand, the price of diesel has also risen by Rs 5 per litre since July 1.
When dynamic pricing began on June 16, petrol cost Rs 65.48 per litre in Delhi. It went down to Rs 63.09 till July 1. But with continuous rise since then, petrol today costs Rs 70.30 per litre in the national capital. In Mumbai, while the petrol price was Rs 76.75 on June 16 and Rs 74.3 on July 1, the cost was Rs 79.41 as on September 11.
Here is how petrol and diesel prices have risen since June 16:
However, despite the spike, the dynamic pricing is here to stay. Earlier this month, Oil Minister Dharmendra Pradhan said the daily revision in petrol and diesel prices will continue.
He said the daily revision immediately passes on the benefit of any reduction in international oil prices to consumers and avoids sharp spikes by spreading them in small doses. “It is in the interest of consumers. I don’t think that there is a need for change in it,” Pradhan said.