New Delhi: Petrol and diesel prices were today kept unchanged across India. The oil marketing companies (OMCs) have not revised petrol and diesel prices for the fourth consecutive days amid softening of the global oil prices over rise in production and concerns on demand. The retailers in the country have decided to wait and watch the global oil situation before making further changes, as per IANS report.Also Read - Petrol, Diesel Prices To Go Down Big? All You Need To Know
Petrol, Diesel Prices In Delhi, Mumbai Today
With auto fuel rates maintaining stability, petrol price in Delhi has remained unchanged at Rs 101.19 per litre on Thursday. Diesel price in the national capital is at 88.62 per litre. In Mumbai, the petrol price is Rs 107.26 per litre. Diesel rates also remains the same at Rs 96.19 a litre, IANS reported quoting the country’s largest fuel retailer Indian Oil Corporation. Also Read - Petrol, Diesel Price: Fuel Consumers Can Expect Relief; Check City-Wise Rates
Also Read - Relief For Consumers As Petrol, Diesel Prices Cut By 15 Paise Per Litre
- While petrol and diesel prices remained static, their retail rates varied depending on the state-wise slabs of local taxes levied. Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised by them on a daily basis. Revised fuel prices become effective from morning at 6 a.m.
- The daily review and revision of prices is based on the average price of benchmark fuel in the international market in the preceding 15-days, and foreign exchange rates, according to IANS report.
- Petrol and diesel consumers can expect fuel prices to remain unchanged or get some relief by way of a cut in days ahead as global oil is expected to remain soft. Oil cartel OPEC and its allies have agreed to gradually raise production levels that should prevent upward price movement, IANS reported.