Oil marketing companies (OMC) kept petrol and diesel prices unchanged across the four metros on Wednesday as global oil prices remained subdued and product prices remained steady. Petrol prices have been unchanged for 26 days at a stretch while diesel prices were the same for the 36 consecutive days.
OMCs in India have been holding on to the retail price of petrol and diesel for close to a month now. Price of petrol in Delhi was at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 per litre, respectively. Diesel prices in Delhi, Mumbai, Chennai and Kolkata were at Rs 70.46, Rs 76.86, Rs 75.95 and Rs 73.99, respectively.
But with fresh indications on global oil prices, domestic oil companies could revise the retail price downwards. Consumers can cheer as oil marketing companies (OMC) may actually bring down the retail prices of petrol and diesel in the coming week ahead of Diwali.
Retail sales have picked up with the gradual reopening of the economic activities. First time since lockdown, diesel sale in the country has crossed over the pre-covid level with the country's most widely consumed fuel witnessing a nine per cent year-on-year growth in the first 15 days of October.
The surge in demand after months of subdued sales is the direct result of an increase in the transport activities ahead of the festival season as consumers move out to make those necessary purchases.
(With inputs from Agencies)