Fuel prices across major cities remained unchanged for a fourth straight day in the country. Petrol costs Rs 69.59 per litre in New Delhi, Rs 72.29 in Kolkata, while in Mumbai, petrol is priced at Rs 75.30.
There is no change in petrol prices in cities like Chennai, Bangalore, and Hyderabad. The rates are Rs 72.28, Rs 71.97 and Rs 73.97 per litre, respectively.
However, Gurgaon and Noida saw slight changes in the rates. In Gurgaon, the price of petrol today was reduced by 0.19 paise. The fuel is priced at Rs 70.02 per litre versus yesterday's Rs 70.21 per litre. Petrol in Noida will cost you Rs 72.16 compared to Friday's Rs 72.01 per litre.
In the case of diesel prices, most cities will pay the same rate as it was yesterday. Diesel per litre in New Delhi will cost you Rs 62.29. Kolkata, Mumbai and Chenna saw no change in fuel rates, costing Rs 64.62, Rs 65.21 and Rs 65.71 per litre.
Amid tumbling crude oil prices, India is yet to see a sharp fall in the retail price of petrol and diesel. The current base of petrol price is at Rs 27.96 per litre in Delhi, while that of diesel is at Rs 31.49 a litre (as of March 16, 2020).
"Even though petrol and diesel prices have been freed from the administered price mechanism, high level of taxes and the invisible control that the Centre exercises on public sector oil companies prevent market forces from taking over auto fuel pricing, keeping customers away from the gains that could have accrued in this market where crude prices have settled at just around $25 a barrel now," said an oil sector analyst with one of the big four consultancy firms asking not to be named.
The government is yet to allow customers to benefit from lower fuel prices by keeping its tax collections strong.