The retail prices of petrol were increased by 5-6 paise across four metro cities on Sunday (June 23).
Lok Sabha Elections 2019: Petrol, diesel price remain stable despite 5% rise in crude – This OMC is Morgan Stanley’s top pick
The election period from mid-April 2019 till now has turned fruitful for petrol and diesel prices. A Morgan Stanley research note highlights that retail fuel prices remained range-bound during elections, despite 5% rise in oil prices since April.
Petrol and diesel prices were slashed in major cities across the country on Saturday. After today’s price revision, petrol became 48-50 paise cheaper in all the metro cities while diesel 19-20 paise cheaper. In Delhi, petrol rates were cut 48 paise from Rs 72.63 a litre on Friday to Rs 72.15 per litre today.
Diesel prices rose by Rs 7 per litre while petrol remained stable across major cities on Friday. The petrol price in Mumbai stood at Rs 78.59 a litre while diesel was at Rs 69.72 per litre, at par with March 2019 end levels.
The petrol prices in India remained flat despite crude edging up in the global markets amidst signs of tighter global supply. The petrol rates in India were seen trading at Rs 72.93 per litre in New Delhi, Rs 74.95 per litre in Kolkata, Rs 78.50 per litre in Mumbai and at Rs 75.69 per litre in Chennai.
On Monday (April 15), State-run oil marketing companies increased the prices of petrol prices by 5-6 paisa per litre while diesel prices remained unchanged across four major cities in the country.
Petrol prices were lowered marginally on Tuesday, while diesel rates were left unchanged for a second consecutive day. With effect from 6 am on Tuesday, the prices of petrol in the four metros of Delhi, Mumbai, Kolkata and Chennai were lowered by 5 paise per litre each compared with the previous day’s rates.
Petrol prices were increased in the range of Rs. 1.11-1.19 per litre in four metros in March 2019, according to data on iocl.com. On February 28, petrol prices stood at Rs. 71.73 per litre in Delhi, Rs. 73.82 per litre in Kolkata, Rs. 77.36 per litre in Mumbai and Rs. 74.48 per litre in Chennai.
State-run oil marketing companies on Tuesday (March 19) left prices of petrol unchanged for the second consecutive day, while diesel prices fell by 11-12 paise across four metropolitan cities in the country.
Petrol prices kept on rising as the fuel is selling beyond Rs 78 mark in Mumbai on Monday. While in the national capital, petrol is being sold for Rs 72.78 per litre and diesel costs Rs 66.91 a litre.