NEW DELHI: Oil marketing companies seem to have moved once again towards a revised fuel price mechanism, shifting to the practice of changing petrol and diesel rates after every couple of days rather than undertaking changes on a daily basis.
In the last few days, prices of petrol and diesel have been revised every two days but the practice had not helped consumers as even under this system prices have only moved up making the fuel dearer.
On Thursday, June 17, Oil marketing companies kept retail price of petrol and diesel unchanged. Hence petrol still costs Rs 96.66 per litre and diesel Rs 87.41 per litre in Delhi. In Mumbai, where petrol prices crossed Rs 100 mark for the first time ever on May 29, the prices continued to be at new high of Rs 102.58 per litre on Thursday. Diesel prices also remained unchanged at Rs 94.70 a litre, the highest among metros.
Across the country as well, the petrol and diesel price prices remained static on Thursday but its actual retail prices varied depending on the level of local levies in respective states.
The price pause on Thursday came after petrol and diesel prices were raised by 25 and 13 paise per litre respectively in Delhi on Wednesday. Prior to Wednesday, there was no price revision on Tuesday. Similarly, while fuel prices were raised on Monday, it remained unchanged in the previous day.
US Fed Reserve keeps benchmark interest rates near zero amid inflation concerns
Strong sales growth at Indian pharma Cos likely in current FY on pandemic recovery: Fitch
Edible oil prices softening up to 20 pc in certain categories, says govt