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.
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First Published: Wed, February 24 2021. 15:29 IST