Amid the ongoing Russia-Ukraine war, as the international oil prices jumped nearly 40%, diesel price in India has been increased by about Rs 25 per litre for bulk customers. The retail price of diesel however remains unchanged, according to a PTI report.
The month of March had seen petrol pump sales increase by a fifth as bulk users, such as operators of bus fleets and shopping malls, among others, bought diesel in retail, instead of the usual practice of ordering directly from oil companies. This resulted in the loss of private retailers such as Nayara Energy, Jio-bp and Shell.
According to the PTI report, retailers are now finding shutting down pumps more viable than selling petrol and diesel at rates that have been on freeze for a record 136 days.
With the latest increase in diesel price for bulk customers, one litre of fuel is selling for Rs 122.05 per litre in Mumbai, an increase of Rs 25 from the previous price of Rs 94.14 in the financial capital of India. In the national capital Delhi, diesel prices have been increased by 25 to Rs 115 per litre for bulk customers from the current price of Rs 86.67 a litre at the petrol pump for usual users.
Oil marketing companies had last revised petrol and diesel prices on November 4, 2021. Despite there been a tremendous surge in global oil prices, there has not been any increase in fuel rates since November.
Earlier, it was expected that the oil marketing companies would restart changing the prices of petrol and diesel on a daily basis starting March 10, 2022, the day of the counting of votes for five state elections.