Petrol, diesel prices remain unchanged a day after reaching new highs
Photo by Bhushan Koyande

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 continues to remain at Sunday's level of Rs 98.46 a litre and diesel Rs 88.90 per litre in Delhi.

In Mumbai, the price of petrol was held unchanged at an all-time high of Rs 104.56 per litre. Diesel price also continues to be at Rs 96.42 a litre, the highest among metros.

In Chennai, petrol is priced at Rs 99.49 per litre while the price of diesel is Rs 93.46 per litre. The price of petrol in Kolkata is Rs 98.30 per litre while diesel is sold at Rs 91.75 per litre.

Petrol price was hiked by 35 paise per litre and diesel by 25 paise on Sunday. The hike on Sunday is the 31st increase in prices since May 4, when state-owned oil firms ended an 18-day hiatus in rate revision they observed during assembly elections in states like West Bengal. In 31 hikes, the price of petrol has risen by Rs 8.06 per litre and diesel by Rs 8.37 a litre.

Oil companies revise rates of petrol and diesel daily based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates. International oil prices have climbed in recent weeks on optimism of a quick recovery in fuel demand. Brent crude soared past the USD 75 per barrel mark, the first time since April 2019.

(With inputs from Agencies)

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