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Petrol, diesel prices static as global crude stable for the 8th consecutive day

Prime News, National, New Delhi, April 23:-Fuel prices in the country remained unchanged on Friday (April 23) as oil marketing companies decided to go on a pause mode and analyse the global developments on oil prices before effecting a revision.

Accordingly, pump prices of petrol and diesel remained at Rs 90.40 a litre and Rs 80.73 a litre respectively in Delhi.

Petrol price in Mysore is Rs 93.01 per liter and that of Diesel is Rs 85.22 per litre on Friday.

The price of the two auto fuels had fallen by 16 paisa and 14 paisa per litre respectively last week on Thursday (April 15) after a 15-day break when OMCs kept its prices static.

Across the country as well the petrol and diesel price remained unchanged on Friday but its retail levels varied depending on the level of local levies on respective states.

Premium petrol, however, continues to remain over Rs 100 a litre in Mumbai and several other cities across the country.

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 the past 24 days. It again reduced the price on March 30. Thereafter, fuel prices have remained unchanged for the past 15 days before falling again on April 15. In all petrol prices have fallen by 77 paisa per litre while diesel by 74 paisa per litre in 2021 so far.

Earlier, petrol and diesel prices increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

With global crude prices at around USD 66 a barrel mark, OMCs may have to revise fuel prices upwards again if there is any further firming up. OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate.

-(NAV, Inputs: Agencies)

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