Wednesday, October 28, 2020

Business

No change in petrol, diesel prices for more than 10 days now

IANS | October 13, 2020 03:41 PM

NEW DELHI:Fuel consumers did not face any change in petrol and diesel prices for one-third of a month as stable global oil prices ensured that oil marketing companies did not need to go for a revision.

Diesel prices have stayed at the same level since last October 3, completing 11 days when the fuel did not see any revision. Petrol prices have been stable for a longer period, completing 21 days on Tuesday.

With no revision in fuel prices on Tuesday in the national capital, diesel continues to be priced at Rs 70.46 per litre. Similarly, prices of the fuel in Mumbai, Chennai and Kolkata, is also stable at Rs 76.86, Rs 75.95 and Rs 73.99 respectively.

The price of petrol in Delhi, Mumbai, Chennai and Kolkata remains at Rs 81.06, Rs 87.74, Rs 84.14 and Rs 82.59 per litre respectively.

Petrol and diesel prices saw a lot of volatility in the months of July, August and September when prices moved up and down at frequent intervals with diesel prices witnessing steep fall lately.

The development in the fuel market is in line with movement of global oil prices. Crude prices remained soft for most of the previous weeks and fell almost 10 per cent to close to $ 40 a barrel a week back. In the last few days, it has risen and is now around $ 43 a barrel.

Continuing coronavirus pandemic has impacted oil demand and pushed down prices in the absence of any other trigger to lift the markets.

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