Oil marketing companies (OMC) have gone on a pause mode at a time when news of rising coronavirus and expectations of big pickup in demand had kept crude on the boil with prices breaching USD 50 a barrel mark and hitting USD52 a barrel mark. OMCs continued to hold back any change in retail price of petrol and diesel going on with their wait and watch stance that has kept the prices of two auto fuels static for past 12 days.
Accordingly, there was no change in retail price of auto fuels on Saturday with price of petrol remaining at Rs 83.71 a litre and diesel Rs 73.87 a litre in Delhi. It remained unchanged across the country as well. Petrol prices were very close to breaching the all time high level of Rs 84 a litre (reached on October 4, 2018) when it touched Rs 83.71 a litre on December 7. But the march has been halted ever since then with no price revision by the OMCs.
Global crude prices have risen almost USD12 a barrel in last one month to reach over USD52 a barrel now. But even at this level, it is far less than average crude price of USD80.08 a barrel in October 2018 when petrol prices touched highs of Rs 84 a litre in the Capital.
With Saturday's pause, fuel prices have now increased on 15 of the past 30 days with petrol prices rising by Rs 2.65 per litre and diesel by 3.41 a litre.
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