Oil companies hold diesel, petrol prices for three consecutive days

Oil marketing companies decided to keep the pump prices of petroleum products petrol and diesel unchanged on Thursday.

This is the third consecutive day when auto fuel prices have remained static after diesel prices were increased in the previous weeks on more than two occasions.

With prices remaining unchanged, diesel continues to be priced at Rs 81.64 per litre in the capital, while petrol has maintained steady levels at Rs 80.43 a litre.

Oil companies had raised diesel prices marginally by 12 paise on Monday while keeping petrol prices unchanged. On Tuesday and Wednesday as well, there was no change in the retail price of the two petroleum products.

Petrol prices had maintained the same level of Rs 80.43 a litre since June 29 when it's pump price rose marginally by five paise over previous days price.

Unexpected rise in diesel prices despite slower demand has put the transport sector at a big disadvantage as rising fuel cost has further shrunk its margins.

With the hike in diesel prices, the gap between the two auto fuels has further widened in the national capital. Last month, diesel prices overtook that of petrol in the national capital, in an unprecedented development.

Along with the Capital, petrol and diesel prices also remained unchanged in other metro cities as well.

Oil companies began daily revision of the two auto fuels from a June 7 after keeping the price unchanged for previous 82 days during Covid-19 related lockdown. Since then petrol and diesel prices have increased by Rs 9.5 - Rs 12 per litre respectively.

--IANS

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