The Petrol and Diesel prices remain unchanged in Nagpur city on Thursday. The petrol prices are steady at Rs 101.6 and Diesel price at Rs 92.28 per litre.
As the petrol prices has already crossed Rs 100 and remain unchanged since June 1, it is estimated that the city is just couple of rises away to hit a century mark in Diesel prices soon which will cause more chaos.
The rise in fuel price will have a cascading effect as the transportation cost will rise eventually increasing the value of goods. With the affected economy due to COVID-19 the hike in fuel price is a big concern for many as it is affecting their pockets.
Across the country as well petrol and diesel prices increased between 23-27 paise per litre on Wednesday but its retail prices varied depending on the level of local taxes in different states.
With global crude prices also rising on a pick up demand and depleting inventories of world’s largest fuel guzzler – the US, retail prices of fuel in India are expected to firm up further in coming days.
The benchmark Brent crude is currently at $72.60 on ICE or Intercontinental Exchange.