Fuel retailers spared consumers of a further hike in fuel prices by keeping retail prices of petrol and diesel unchanged on Monday, a day after it touched new record highs.
Accordingly, the price of petrol and diesel remains unchanged at Rs 102.39 and Rs 90.77 per litre in Delhi, as per Indian Oil Corporation, the country's largest fuel retailer.
Across the country as well petrol and diesel prices remained static on Monday but their retail rates varied depending on the level of local taxes in a particular state.
In Mumbai, the petrol price is stable at Rs 108.43 per litre on Monday, while diesel rates also remain unchanged at Rs 98.48 a litre.
In Chennai, petrol is priced at Rs 100.01 a litre and in Kolkata Rs 103.07 a litre. Diesel is also priced at Rs 95.31 and Rs 93.87 per litre in both cities respectively.
Petrol and diesel prices were hiked on Sunday to send rates soaring to new record highs across the country. Petrol price were hiked by 25 paise a litre and diesel by 30 paise.
State-owned Indian Oil Corp (IOC), Bharat Petroleum Corp Ltd (BPCL) and Hindustan Petroleum Corp Ltd (HPCL) resumed daily price revisions on September 24 after international oil prices neared a three-year high. Global benchmark Brent crude is trading above USD 78 per barrel.
In eight price increases since September 24, diesel rates have gone up by 2.15 paise per litre. Petrol price has increased by Rs 1.25 per litre in five installments this week. When international oil rates fell in July and August, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 and Rs 1.25 per litre.
Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17. Diesel rate had gone up by Rs 9.14 during this period. India is dependent on imports to meet nearly 85 per cent of its oil needs and so benchmarks local fuel rates to international oil prices.
(With inputs from PTI)
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