Diesel prices were hiked by for the 18th straight day on Wednesday, while petrol rates were left unchanged in Delhi.
This is the first time that diesel will cost more than petrol in the national capital.
The prices were increased by 48 paise. A litre of diesel in Delhi will now cost Rs 79.88 which is more than petrol price (Rs 79.76 per litre).
The rates are effective from 6 am (June 24), according to state-run Indian Oil Corporation.
The price of petrol has been hiked by a cumulative Rs 8.50 per litre, diesel by Rs 10.48 a litre in the national capital, respectively over the past 18 days.
According to reports, domestic rates of auto fuels are likely to cross the Rs 80 per litre mark soon, in line with rising international oil prices.
Meanwhile, in other states, the fuel will also rise but diesel will continue to be cheaper due to lower taxes imposed by state governments, although the gap between the prices will contract further.
Owing to a difference in international benchmark prices, petrol generally costs between Rs 5-8 more than diesel. The two fuels had a price gap of Rs 7.3 a litre in early May but their equation changed following disproportionate hikes in VAT on two fuels by the state government.
VAT on petrol was hiked to 30% from 27% while VAT on diesel was jacked up almost twofold to 30% from 16.75% by the Kejriwal government.
Fuel rates have been hiked across the country, varying from state to state basis the incidence of VAT (Value Added Tax), or local taxes.
Petrol and diesel prices are assessed by oil marketing companies such as the state-run Indian Oil Corporation daily, and any revision in rates is applied from 6 am in the morning.
The daily increase in fuel prices started on June 7 as oil marketing companies resumed the practice of revising the prices daily in line with costs after an 82-day hiatus from the same amidst the coronavirus pandemic.
International benchmark Brent crude surged 1.74% at $43.83 on Tuesday.
Below mentioned are the current petrol and diesel prices in metro cities (in rupees per litre):
City Petrol Diesel
Mumbai 86.54 78.22
Chennai 83.04 77.17
Kolkata 81.45 75.06
Delhi 79.76 79.88