Petrol, diesel to be cheaper by ₹2 from today
Reduced petrol and diesel prices will benefit the citizens through more disposable income, says government
Reduced petrol and diesel prices will benefit the citizens through more disposable income, says government
State-run oil marketing companies have booked a combined loss of ₹27,276 crore in the first six months of the ongoing financial year, says Union minister Hardeep Puri.
Petrol and diesel rates were hiked by 80 paise on Tuesday.
While petrol prices were hiked by 80 paise, diesel rates were raised by 70 paise.
Diesel and petrol prices have been hiked by 80 paise per litre across the country.
Private retailers like Nayara, Jio-bp and Shell are forced to hold the rates even as they suffer losses, or they will lose customers to public sector retailers.
Petrol and diesel prices have been stagnant for the past 120 days, even as crude oil prices continue to rise. Meanwhile, OMCs' margins suffer the consequences.