The fuel prices have been a concern from the past couple of weeks. The Oil Marketing Companies (OMC) have continued to pause fuel prices revision for the 20th consecutive day on Friday. This comes as a wait and watch policy amidst the fluctuating global crude prices.
Petrol In Delhi Continues At The Price of Rs 101.84
As per the latest reports, the global crude prices have reportedly swung in all directions in July. It started with a low of $70 a barrel to quickly increasing to $77 per barrel. And the soon after it feel below $70 per barrel and then later in the month, it reached to $75.
However, the oil prices have dropped again and is currently just over $70 per barrel amidst the rising concerns of Covid 19. Along with the industry recovering slowing and the rising US oil inventory.
Currently, there has been no price increase by the OMCs. But the petrol in Delhi continues to sell at Rs 101.84 per litre and the diesel remains at Rs 89.87 per litre on Friday. The pump price of fuel has been static since July 18.
ALSO READ: Petrol, Diesel Prices Remain Unchanged In India; OMCs Halt Price Increase
Similarly, in Mumbai, the petrol prices crossed the Rs 100 mark for the fire time on May 29. Currently, petrol is priced at Rs 107.83 per litre and the Diesel prices are marked at Rs 97.45 per litre. Meanwhile, Chennai and Kolkata have crossed the Rs 100 per litre mark. In Chennai, the petrol is priced at Rs 102.49 per litre and Kolkata has petrol priced at Rs 101.08 per litre. Diesel is priced at Rs 94.39 and Rs 93.02 per litre, respectively.
Crude Oil Prices Have Consistently Increased Since April 2020
Reports suggest that the prices pause comes after the fuel prices were increased on 41 days within the current financial year. The 41 increases took petrol prices increased by Rs 11.44 per litre in Delhi. And the diesel prices were increased by Rs 9.14 litre in Delhi.
However, prices of both auto fuels was reduced only once in April by Rs 0.16 and Rs 0.14 per litre. On July 12, Diesel prices were reduced by Rs 0.16 per litre in Delhi.
ALSO READ: Petrol Prices Continue To Rise, Diesel Prices Decrease
Since April 2020, petrol prices have increased by Rs 32.25 per litre from Rs 69.59 a litre to Rs 101.84 a litre in Delhi. And the Diesel prices were increased by Rs 27.58 per litre.
