Petrol, diesel prices remain unchanged for twelfth consecutive day
Photo Credit: ANI

Consumers have been spared of another increase in fuel prices with oil marketing companies deciding to keep petrol and diesel rates static for the twelfth consecutive day on Thursday.

Petrol and diesel prices in Delhi stayed at Rs 91.17 and Rs 81.47 per litre, respectively, according to a price notification from OMCs. Fuel prices in Mumbai too remained constant with petrol and diesel being sold at Rs 97.57 and Rs 88.60 per litre, respectively.

In Chennai, petrol is selling at Rs 93.11 per litre while the price of diesel is Rs 86.45 per litre. The price of petrol in Kolkata is Rs 91.35 per litre while diesel costs Rs 84.35 per litre.

In Pune, petrol and diesel remained at Rs 97.21 per litre and Rs 86.90 per litre respectively.

OMCs have not revised fuel prices for the last 12 days even though the global oil market remained firm with crude hovering close to $66 a barrel. Since the beginning of February crude has gained more than $7 per barrel that pushed OMCs to increase fuel prices on 14 occasions, raising the prices by Rs 4.22 per litre for petrol and by Rs 4.34 a litre for diesel in Delhi.

The increase in the previous weeks has taken petrol to cross historically high levels of Rs 100 a litre in several cities across the country.

Petrol and diesel prices are revised daily in line with the benchmark international price and foreign exchange rates. They vary from state to state depending on the local taxes.

Crude oil futures on Wednesday fell 1.09 per cent to Rs 4,629 per barrel as participants reduced their positions on low demand.

On the Multi Commodity Exchange, crude oil for March delivery eased by Rs 51, or 1.09 per cent, to Rs 4,629 per barrel with a business volume of 4,868 lots. West Texas Intermediate crude oil was trading 0.95 per cent lower at $63.40 per barrel, while Brent crude was quoting 1.13 per cent down at $66.76 per barrel in New York.

(With inputs from Agencies)

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