You are here: Home » Markets » News
Business Standard

Petrol, diesel prices revision maintain pause as OMCs weigh options

Fuel prices in the country remained unchanged on Monday as oil marketing companies decided to wait and watch the situation prevailing in the global oil markets for some more time

Topics
petrol | diesel | OMCs

IANS  |  New Delhi 

bpcl, psu sale, disinvestment, OIL, PETROL, DIESEL, PRICES

in the country remained unchanged on Monday as oil marketing companies decided to wait and watch the situation prevailing in the global oil for some more time before restarting daily revision of and prices.

Sources indicated that price revisions may begin anytime now as oil companies have already increased ATF prices by 6.7 per cent beginning this month. However, whether prices of and would move up or down then would depend on actuals average global price in the last fortnight of March.

benchmark retail to a 15-day rolling average of global refined products' prices and dollar exchange rate.

With no price change on Monday, pump prices of and remained at Rs 90.40 a litre and Rs 80.73 a litre respective in Delhi. This is 18 consecutive day when have not been revised.

The price of the two auto fuels had fallen by 16 paisa and 14 paisa per litre respectively on April 15 after a 15 day break when kept its prices static. Thereafter revision of fuel prices have been halted.

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

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

The went on price cut for the first time this year on two consecutive days - March 24 and 25 after keeping oil prices steady for past 24 days. It again reduced the price on March 30. Thereafter, fuel prices have remained unchanged for past 15 days before falling again on April 15. In all petrol prices have fallen by 77 paisa per litre while diesel by 74 paisa per litre in 2021 so far.

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 prices at over $ 66 a barrel mark, OMCs may have revise fuel prices upwards again if there is any further firming up.

--IANS

sn/sdr/

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 03 2021. 12:29 IST
RECOMMENDED FOR YOU
.