India petrol, diesel prices complete a month without any revision

Petrol and diesel prices in the country remained static for the 30th consecutive day on Monday.

Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Monday.

Across the country as well, fuel prices remained unchanged providing some relief to the consumers already feeling the heat of higher inflation that has raised prices of several other commodities including food items.

Global crude prices have now softened to below $ 70 a barrel after it swung in all directions in July starting with a low of $70 a barrel to quickly rise to over $ 77 a barrel, only to fall soon below $ 70 a barrel and crossing $ 75 a barrel later in the month.

Lower oil and product prices should have actually resulted in consumers getting relief by way of a cut in the retail price of petrol and diesel. Rather, OMCs have decided to wait and watch the disruption now as crude prices are still swinging.

The pump price of fuel has been static since July 18.

In the city of Mumbai, where petrol price crossed the Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among metros.

Petrol price in all metros have now crossed the Rs 100 per litre-mark. In Chennai, it is priced at Rs 102.49 a litre and in Kolkata Rs 101.08 a litre. Diesel is also priced at Rs 94.39 and Rs 93.02 per litre in both cities respectively.

The long price pause has come after fuel prices increased for 41 days in the current financial year.