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Petrol prices now on the run while diesel remains steady

After a long pause, it's now the turn of petrol to face a regular increase in retail prices while diesel prices are remaining steady.

In the national capital, petrol prices rose for the second consecutive day by 16 paise to Rs 80.73 a litre. Pump prices of petrol have risen 14 paise a litre breaking from a 47-day long pause since June 29.

This even as diesel prices, which have maintained a regular increase since late June, are now holding on to the retail price line for the last two weeks.

Sources in oil marketing companies (OMCs) said that international petrol prices were on a boil now resulting in revisions 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 remains 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.

Prices of petrol in the other key metros were also revised upwards today..