NEW DELHI: Petrol, diesel prices in India have remained steady for over 3 weeks now as softening crude and Assembly elections in four states and one union territory has kept Oilcos from revising the retail prices.

Crude has now slipped 6 percent in the last six days and is now sitting a tab lower around USD 64.5 a barrel on the back of rising US inventory. The petrol and diesel prices have increased 26 times in 2021 with the two auto fuels increasing by Rs 7.46 and Rs 7.60 per litre respectively so far this year.

Across the country as well the petrol and diesel price remained unchanged. But the pause has not helped in bringing down fuel prices that have crossed Rs 100 per litre (petrol) mark in several parts of the country. Accordingly, petrol continues to be priced at Rs 91.17  per litre and diesel Rs 81.47 a litre in the national capital on Monday. Fuel prices have not been amended as of now for 23 days.

Earlier, the Minister of State for Finance Anurag Thakur said in Parliament that states and Centre should look at taxes on petroleum products to see if relief can be provided to consumers.

Since the beginning of February crude has gained more than $7 per barrel that pushed OMCs to increase fuel prices on 14 occasions raising the prices by Rs 4.22 per litre for petrol and by Rs 4.34 a litre for diesel in Delhi.

The officials in public sector oil companies said that retail price may rise again once daily revision starts post voting in various state elections. The crude is expected to move up further on demand rise and continued production cut by OPEC alliles in April.

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