Tuesday, May 18, 2021


OMCs continue to hold petrol, diesel prices

IANS | May 02, 2021 04:30 PM

NEW DELHI: Oil marketing companies (OMC) kept the retail prices of petrol and diesel unchanged for the 17th straight day across the four metro cities.In the national capital, petrol was sold for Rs 90.40 per litre on Sunday.

Similarly, the price of the fuel in Mumbai, Chennai and Kolkata was unchanged at Rs 96.83, Rs 92.43 and Rs 90.62 a litre, respectively.

In tandem with petrol prices, diesel was also sold at unchanged price levels. The price of diesel in Delhi, Mumbai, Chennai and Kolkata was Rs 80.73, Rs 87.81, Rs 85.75 and Rs 83.61 per litre.

Fuel prices in the country remained unchanged as OMCs decided to wait and watch the prevalent situation in global oil markets before restarting daily revision of petrol and diesel prices.

Sources indicated that price revisions may begin anytime next week after results to state elections are declared. However, whether price of petrol and diesel would move up or down then would depend on actual average global price in the last fortnight of March.

OMCs benchmark retail fuel prices to a 15-day rolling average of global refined products' prices and dollar exchange rate.

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