Fuel Prices Hiked In Delhi After A Series Of Reduction

Fuel Prices Hiked In Delhi After A Series Of Reduction

After Sunday's price revision, petrol in Delhi was retailed at Rs 68.29 while diesel was sold at Rs 62.16 per litre, 10 paise cheaper compared to Rs 62.16 on Saturday.

Earlier, on December 31, petrol prices touched their lowest in 2018, while diesel prices reached the lowest since March, after rising to a record high in October.

Three major supermarkets have slashed the price of their petrol and diesel fuel.

Asda announced the cut of up to 1ppl off unleaded and 2ppl off diesel, following continued decreases in the wholesale cost.

Asda wrote on their official Twitter: "Our national price cap means motorists will pay no more than 113.7ppl for unleaded and 123.7ppl for diesel".

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Yet despite this, the group said motorists paid just 0.2 per cent less for petrol than they did past year, while diesel costs 5.3 per cent more than 12 months ago. In addition to that, state-run oil-marketing companies chose to absorb another cut of Re 1 per litre on petrol and diesel which cumulatively brought down the prices by Rs. 2.5 per litre.

Kirstene Hair, the Conservative MP for Angus and chair of the APPG, said last week 'Drivers need reassurance that they are not paying way over the odds for fuel'. The retail price of diesel in the capital has been increased by 8 Paise to ₹ 62.24 from ₹ 62.16 and the retail price of petrol went up by 20 Paise to ₹ 68.50 from ₹ 68.30.

The All-Party Parliamentary Group for Fair Fuel wants a body - which could be named PumpWatch - to oversee fuel prices in a similar way to the scrutiny faced by utility providers.

Now both retailers have said it's cutting prices at all 320 forecourts as of tomorrow (Tuesday).

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