Oil price rise in India is way below global price hikes: Hardeep Singh Puri
The minister also highlighted India's commitment to accelerating a just and sustainable energy transition at the ministerial dialogue on India-US strategic clean energy.
The minister also highlighted India's commitment to accelerating a just and sustainable energy transition at the ministerial dialogue on India-US strategic clean energy.
Fuel prices are already touching new highs every other day.
With fuel prices remaining unchanged on Friday, petrol continued to cost Rs 97.76 per litre and diesel Rs 88.30 per litre in Delhi.
In tandem with petrol, price of diesel also increased. In Mumbai, Chennai and Kolkata, diesel was sold for Rs 95.44, Rs 92.58 and Rs 90.82 per litre, respectively.
The price of petrol increased by 17-19 paisa per litre while the diesel price increased by 28-30 paisa per litre across metro cities of the country.
This simply means that even though the prices of crude oil may continue to rise from the present levels of $60 a barrel, Asian market would continue to get discounts over the prevailing price.
The OMC's patience of holding back fuel prices was broken on Wednesday when they increased the retail price of petrol and diesel for the first time this year after over a month-long pause.
Any changes in petrol or diesel prices are implemented on a daily basis with effect from 6 am. The fuel rates vary from state to state due to the value-added tax (VAT).
If this rise in oil price continues then the petrol rates across the country may hit an all-time high level and will breach the mark.
Brent has risen from USD 36.9 per barrel on October 30 to USD 49.5 on December 4.
