New Delhi: In an unexpected development, the pump price of diesel is all set to surpass the petrol price in the capital, making it the most expensive transport fuel for the first time in a long time.Globally, diesel is priced slightly above petrol prices due to the very nature of the product that has a higher cost of production. Going by the trend of price movement in the two products for the last few days where diesel prices have consistently increased by 50-60 paise per litre while the daily increase in petrol prices have fallen to just 20 paise on Tuesday, it is set to surpass petrol prices in next few days. "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. This increased the retail price of diesel and petrol in Delhi by Rs 7.10 and Rs 1.67 a litre respectively. The development is also being seen with caution by automobile companies who have spent millions to ramp up their facilities for diesel run vehicles.

Source: Economic Times June 23, 2020 08:23 UTC