Petrol, diesel prices remain unchanged for the second time in a row
Petrol, diesel prices remain unchanged for the second time in a row
Photo credits: Pinterest

On Monday (March 1, 2021), petrol and diesel prices remained unchanged for the second day in a row. Last revision of fuel prices by the oil marketing companies was on Saturday.

In the case of New Delhi, petrol and diesel was at Rs 91.17 and Rs 81.47 per litre respectively.

In Mumbai, petrol and diesel is priced at Rs 97.57 and 88.60 respectively. Meanwhile, in Pune, petrol and diesel was priced at Rs 97.21 and 86.90 respectively.

In Chennai and Kolkata, petrol is selling at Rs 93.11 and Rs 91.35 per litre, and diesel at Rs 86.45 and Rs 84.35 per litre, respectively.

Petrol was priced at Rs 94.22 and diesel was sold at Rs 86.37 in Bangalore.

Meanwhile, crude oil prices in the global market have rebounded. This rise in prices is mainly due to the OPEC group of oil producers and their partners meeting is expected to take place on Thursday; and the US stimulus bill.

Echoing the view of the Finance Minister Nirmala Sitharaman, RBI governor Shaktikanta Das on Thursday, said, "There is a need for coordinated action between the Centre and States because there are inherent taxes levied by both." He added that rising fuel prices have a cost-push factor which does impact inflation.

Futures in New York was above $62 a barrel in early Asian trading. Meanwhile, Brent crude futures for May rose $ 1.17, or 1.82 per cent, to $65.59 per barrel by 7.28 am IST. West Texas Intermediate (WTI) crude futures jumped $1.10, or 1.8 per cent, to $62.60 a barrel, according to Bloomberg.

(To receive our E-paper on whatsapp daily, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)

Free Press Journal