Interesting: Petrol price and diesel price are moving in opposite direction!Currently we are witnessing fluctuating oil price in the international arena. This fluctuation has now influenced the domestic price of petroleum products. On Thursday (yesterday), the state-run Indian Oil Corporation (IOC) moved in contradictory ways on transport fuels, increasing the price of petrol by 58 paise per litre and decreasing diesel by 31 paise per litre effective from midnight applicable at Delhi, with corresponding changes in other states of India.
From today (Friday), Petrol per litre will cost Rs 64.21 in Delhi, Rs 67.42 in Kolkata, Rs 69.13 in Mumbai and Rs 63.76 in Chennai. On the other hand, diesel per litre will cost Rs 52.59 in Delhi, Rs 54.89 in Kolkata, Rs 58.10 in Mumbai and Rs 54.06 in Chennai.
However, even after taking into consideration the fluctuation of oil price, I haven't yet understood the logic of increasing the price of petrol and simultaneously reducing the cost of diesel. Can any Member explain this to me?