The rise within the petrol and diesel value has paused for the final couple of days as oil advertising and marketing corporations have determined to attend and watch the developments on the worldwide oil market earlier than finalising their India retail technique.
Accordingly, oil advertising and marketing corporations saved the pump value of petrol and diesel unchanged on Monday. With this, petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a litre within the national capital.
Throughout the nation as nicely the petrol and diesel prices stay unchanged.
Sources in OMCs stated that value pause on Monday adopted subdued motion in product value in international markets. The crude oil, which has been on fireplace for the final couple of weeks has additionally proven some downward motion recently however staying above $65 a barrel now.
Petrol and diesel prices have been rising constantly since February 9. Within the 14 will increase since then, costs have gone up by Rs 4.22 per litre for petrol whereas diesel price has risen by Rs 4.34 a litre in Delhi.
The rise within the earlier weeks has taken petrol to cross historic excessive ranges of Rs 100 a litre in a number of cities throughout the nation.
In Mumbai, petrol value is simply Rs 2.4 per litre quick (Rs 97.57 a litre) of touching the three digit mark of Rs 100 per litre for the very first time ever. Diesel value within the metropolis is closing on Rs 90 a litre (Rs 88.60 a litre).
In all different metros, petrol is over Rs 90 a litre-mark whereas diesel is nicely over Rs 80 a litre. Premium petrol has crossed Rs 100 per litre-mark in a number of cities of Rajasthan, Madhya Pradesh and Maharashtra a couple of days again.
Since fuel prices are benchmarked to a 15-day rolling common of world refined merchandise’ costs and greenback trade price, pump costs could be anticipated to stay northbound over the following few days even when crude value stabilises.
The petrol and diesel prices have elevated 26 occasions in 2021 with the 2 auto fuels growing by Rs 7.46 and Rs 7.60 per litre respectively to this point this yr.
Oil corporations’ executives stated that petrol and diesel costs might improve additional in coming days as retail charges might must be balanced consistent with international developments to forestall OMCs from making losses on sale of auto fuels.
(Solely the headline and film of this report might have been reworked by the Enterprise Commonplace workers; the remainder of the content material is auto-generated from a syndicated feed.)