OMCs keep petrol, diesel prices unchanged for fifth consecutive day

Oil marketing companies (OMC) kept petrol and diesel prices unchanged for the fifth straight day across cities on Tuesday. In the national capital, petrol was sold for Rs 90.40 per litre.

Similarly, the price of the fuel in Mumbai, Chennai and Kolkata also was unchanged at Rs 96.83, Rs 92.43 and Rs 90.62 per litre, respectively.

In line with petrol, prices of diesel also were same for the fifth straight day. The price of diesel in Delhi, Mumbai, Chennai and Kolkata was Rs 80.73, Rs 87.81, Rs 85.75 and Rs 83.61 per litre, respectively. Fuel prices have been unchanged after declining on April 15. 

Meanwhile, BPCL has started the supply of medical grade oxygen to hospitals at 'no cost' in the view of shortage impacting critical patients of Covid-19.

The company will be supplying around 100 metric tonnes per month. "With average daily cases of Covid-19 rising again since last one month, the demand for oxygen has significantly risen," the company said in a statement. "In fact, in most parts of the country, the cases are hitting new peak, thereby disrupting the demand-supply scenario for medical oxygen."

Similarly, Indian Oil Corporation (IOC) also began diverting oxygen produced at their refineries to supplement the availability of medical oxygen in states worst hit by Covid-19. In a statement, IOC said it has "begun the supply of 150 tonnes of oxygen at no cost to various hospitals in Delhi, Haryana and Punjab."

"The first batch of the lifesaver medical grade oxygen was dispatched today to Maha Durga Charitable Trust Hospital, New Delhi," it said. "Delhi is already facing an oxygen emergency situation."

In the international market, oil prices fell amid mounting concerns that surging caseloads of coronavirus infections in India and other countries will lead to stronger measures and hit economic activity, along with demand for commodities such as crude.

Brent crude was down 43 cents, or 0.6%, at $66.34 a barrel, after rising 6% last week. U.S. oil was down 42 cents, or 0.7%, at $62.71 a barrel, having gained 6.4% last week. "With ... a resurgence of virus cases in India and Japan, topside ambitions continue to run into walls of profit-taking," said Stephen Innes, chief market strategist at Axi.