OMCs keep fuel retail prices unchanged for a week

The global crude oil rates have strengthen up over the past week to cross the USD 73 per barrel mark

 

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

 

Accordingly, in the national capital Delhi, petrol continues to be sold for rupees 101.49 per litre and diesel at rupees 88.92 a litre on Tuesday.

 

This is for the seventh straight day or a one full week when fuel have escaped any revision in their prices.

 

Fuel prices remained unchanged on Tuesday across the country as well, but their retail prices depends on the level of local taxes in each state.

 

After declining, the global crude oil rates have strengthen up over the past week to cross the USD 73 per barrel mark.

 

The anticipation is that with more crude coming into the market next month and oil rates may soften a bit that could help in keeping product prices also under check.

 

The fuel rates had been static for 35 days between July 18 and August 21, before the price revision for fuel again began this month.

 

This pause came after fuel prices surged for 41 days straight in the current FY.

 

These 41 increases have taken up petrol prices by rupees 11.44 per litre in Delhi and diesel rates by rupees 8.74 per litre.

India Scanner News Network

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