OMCs keep Petrol, diesel retail prices unchanged for a week

Even with crude bouncing back over $73 a barrel, the Oil marketing companies (OMC) have spared consumers any further hike in petrol and diesel prices.

Accordingly, in the national capital, petrol continues to be sold for Rs 101.49 per litre and diesel Rs 88.92 a litre on Tuesday. This is the seventh consecutive day or one full week when fuel prices have escaped any revision.

Across the country as well fuel prices remained unchanged on Tuesday, but their retail rates varied depending on the level of local taxes in each state.

After falling, global crude oil prices have firmed up over the past week to cross $73 a barrel mark. The expectation is that with more crude coming into the market next month oil prices may soften a bit that could help in keeping product prices also under check.

Before price revision for auto fuel again began this month, its rates had been static for 35 days between July 18 and August 21.

This pause in prices came after fuel prices increased for 41 days in the current financial year. The 41 increases have taken up petrol prices by Rs 11.44 per litre in Delhi. Similarly, diesel rates have increased by Rs 8.74 per litre in the national capital.-IANS