Retail prices of petrol and diesel were last increased on July 17 and July 15 respectively. (Representative image)
The petrol and diesel prices remained unchanged for the 15th day in a row on September 20, according to a price notification by state-run oil companies.
Petrol price in Delhi was last cut to Rs 101.19 a litre and diesel to Rs 88.62 per litre. The prices remained the same on September 16 in the national capital.
In Mumbai, fuel prices witnessed a similar trend. The petrol price remained unchanged and retailed at Rs 107.26 a litre. The financial hub, on May 29, became the first metro in the country where petrol was being sold for more than Rs 100 per litre.
Diesel price also remained the same and sold at Rs 96.19 per litre in Maharashtra’s capital.
The fuel prices remain unchanged in Kolkata too, where a litre of petrol and diesel were retailed at Rs 101.62 and 91.71, respectively.
Petrol & Diesel Rates Sep 18, 2021
Chennai also retailed a litre of petrol at the same price – Rs 98.96. Diesel price also remained unchanged at Rs 93.26 per litre in Tamil Nadu’s capital.
Meanwhile, a surge in international oil prices may translate into an increase in the retail selling price of petrol and diesel in India as oil companies face extreme margin squeeze, reported news agency PTI citing sources.
Current prices of petrol and diesel in the international market are higher by around USD 4-6 per barrel as compared to average prices during August. However, no increase in retail prices has been affected by oil companies so far, sources said. In case international prices remain at this level, oil marketing companies (OMCs) will have to increase retail prices of petrol and diesel, they said.
Retail prices of petrol and diesel were last increased on July 17 and July 15 respectively. Prior to that, the petrol price was increased by Rs 11.44 a litre between May 4 and July 17.
Diesel rates had gone up by Rs 9.14 during this period. The price hike during this period pushed petrol prices above Rs 100-a-litre-mark in more than half of the country while diesel crossed that level in at least three states.
Average international crude oil prices had fallen by more than $3 per barrel in August as compared to the previous month. This came against the backdrop of mixed economic data from the US and China and mobility restrictions in Asia fuelled by the fast-spreading Delta variant. Accordingly, retail prices of petrol and diesel in the Delhi market were reduced by Rs 0.65 a litre and Rs 1.25 per litre by oil marketing companies from July 18 onwards. The last downward revision was on September 5.
However, with the latest developments in the international market, crude oil prices have started to surge consistently since the last week of August.
(With inputs from PTI)Internet Explorer Channel Network