Petrol, diesel prices were unchanged for the fourth straight day on Wednesday (April 24). In national capital Delhi, petrol is being sold for Rs 72.95 per litre while diesel costs Rs 66.46 a litre, no change compared with yesterday’s price.
Fuel prices remain stable on Thursday. In Delhi, petrol retails at Rs 72.93 per litre while diesel costs Rs 66.31 a litre.
In Mumbai, people have to shell out Rs 78.50 per litre while diesel retails at Rs 69.40 per litre.
The annual rate of inflation based on wholesale price index stood at 3.18 per cent in March mainly due to hike in food and fuel prices, the government said on Monday. Wholesale inflation was 2.93 per cent in February and 2.74 per cent in March 2018.
On Monday, State-run oil marketing companies kept the retail petrol and diesel prices unchanged across major cities of the country (April 8). In national capital Delhi, petrol is being sold for Rs 72.85 per litre while diesel costs Rs 66.11 a litre, no change compared with yesterday’s price.
State oil companies’ ability to freely price fuel during an election will likely be tested again as crude oil nears $70 a barrel. Crude oil gained $4 a barrel in a month mainly on contracting supplies from key producers such as Saudi Arabia
Citizens have reasons to cheer after the state-owned oil marketing companies kept the retail prices of petrol and diesel stagnant on Tuesday (March 26) across major cities of the country.
Oil-marketing companies increased the prices of petrol, whereas diesel prices were cut across the four metro cities on Saturday. Petrol prices were raised by 5 paise in all four metros.
With softer gas prices propping up CNG and piped cooking gas consumption, city gas distribution (CGD) entities will continue to see robust margins but any adverse change in the policy of gas allocation is a key risk for the industry’s profitability, ratings agency ICRA said.
Since June 16, 2017, petrol prices in India get revised everyday 6 am in the morning. Before this, petrol prices used to change on a fortnightly basis. Then, a change in petrol rates could occur on the first and 16th day of the month.
With oil prices on the boil just as general elections are announced, Oil Minister Dharmendra Pradhan has asked world’s largest oil exporter Saudi Arabia to play an active role in keeping rates at a reasonable level.