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Why costly diesel burns a bigger hole in your pocket than petrol

Topics petrol | diesel price | diesel

Diesel, the most used retail fuel by almost all commercial sectors of the economy, is slowly crawling towards a record Rs 90 per litre in Mumbai. A gradual increase in retail fuel prices was expected, as the price of oil itself is inching up—Brent crude now costs more than $65 a barrel—and product prices are an indirect function of oil price.  But the last time crude oil was this costly, a litre of diesel in Mumbai was available at Rs 70-72. Indians are paying Rs 15-20 more per litre of the fuel today than a year ago, courtesy high taxation from the Centre, followed by s.....

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