Accordingly, petrol now costs Rs 90.56 per litre in Delhi and a litre of diesel comes for Rs 80.87. In Mumbai, petrol and diesel were sold at Rs 96.98 and Rs 87.96 per litre, respectively.
In Chennai, petrol is priced at Rs 92.58 per litre while the price of diesel is Rs 85.88 per litre. The price of petrol in Kolkata is Rs 90.77 per litre while diesel is sold at Rs 83.75 per litre.
Petrol and diesel fell by 22 paise and 23 paise per litre respectively last week on Tuesday in the wake global softening of oil prices. OMCs have decided to pause price revision as they want to watch the crude price movement that has now fallen to around $64 a barrel from remaining above this level in much of the last week.
The OMCs went on price cut for the first time this year on two consecutive days - March 24 and 25 after keeping oil prices steady for past 24 days. It again reduced the price on March 30.
Petrol and diesel prices were last revised upwards on February 27 and ever since the retail prices remained unchanged even though during the period crude jumped to over $70 a barrel only to start falling after touching close to $60 a barrel and is now slightly up at $63.5 a barrel. It was cut for the first time this year on March 24 and 25 before revision being put on hold again.
The current reduction in retail prices has not helped in bringing down fuel prices that have crossed Rs 100 per litre (petrol) mark in several parts of the country and continues to remain above the levels even now.
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 petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far.
(With inputs from Agencies)