This shall be on lines of the international markets where diesel is priced higher in comparison to petrol. But for India, the price of petrol has been on the higher side given the taxation structure, wherein less tax is levied on diesel it has been for long cheaply priced in comparison to diesel.
In the national capital, diesel is priced at Rs. 79.4 per liter, which is just 36 paise less than retailing price of petrol which is at 79.76.
The course for diesel to command a price higher than petrol over the next few days is suggested because with a 17 days of consecutive price rise on both fuels; daily price revision for diesel has been by 50-60 paise per litre while that in case of petrol has been by just 20 paise on June 23, 2020
"Diesel price movement is sharper in international market and if oil companies follow the global price trend, diesel prices will surpass that of petrol later this week. It will be after many years that this would happen and is expected to sustain for some time unless government changes the tax structure of the petroleum products again," said an oil sector expert from one of the big four audit and advisory firms asking not to be named.