Petrol, diesel price revision on hold again a day after cuts

NEW DELHI: Fuel prices in the country remained unchanged on Friday a day after oil marketing companies decided to cut the retail price to pass the benefit of softer global oil prices to the consumers.

Accordingly, pump price of petrol and diesel remained at Thursday's level of Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi.

The price of the two auto fuels had fallen by 16 paise and 14 paise per litre respectively on Thursday after a 15 day break when OMCs kept its prices static.

Across the country as well the petrol and diesel prices remained unchanged on Friday but its retail levels varied depending on the level of local levies on respective states.

Premium petrol, however, continues to remain over Rs 100 a litre in Mumbai and several other cities across the country.

The OMCs went on a price cut for the first time this year on two consecutive days — March 24 and 25 after keeping oil prices steady for the past 24 days. It again reduced the price on March 30. Thereafter, fuel prices have remained unchanged for the past 15 days before falling again on April 15.

Earlier, petrol and diesel prices increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

With global crude rising again and crossing $ 67 a barrel mark, OMCs may have to revise fuel prices upwards again. OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products' prices and dollar exchange rate. (IANS)

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