Diesel price extends its gap with petrol, falls again

The oil marketing companies (OMCs) on Monday reduced the pump price of diesel, the third such downward revision in last five days.

In the National Capital, diesel prices have fallen by 11 paisa per litre on Monday, bringing down the transport fuel price to Rs 73.16 a litre. The price of diesel has also fallen on Thursday by 16 paisa per litre and then again on Saturday by 13 paisa.

While diesel prices have fallen, the OMC have kept petrol prices steady. The fuel prices have remained at the same level so far this month. But petrol price has been rising regularly since August 16, when it stood at Rs 80.57 a litre in Delhi. Petrol is now retailing at Rs 82.08 a litre in the capital.

The price of fuel may remain steady or fall in coming days as global crude prices have shown some indication of softening over the expectation of a prolonged demand squeeze over Covid disruptions.