Petrol, diesel prices unchanged across metros

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SME Times News Bureau | 01 Mar, 2021
Fuel prices, which have been soaring to unprecedented levels in the country of late, remained unchanged on Sunday.

In the national capital, petrol was priced at Rs 91.17 per litre, same as on Saturday.

Similarly, in Mumbai, Chennai and Kolkata, the fuel was sold for Rs 97.57, Rs 93.11 and Rs 91.35 a litre respectively.

Oil marketing companies pressed the pause button after raising the pump price of petrol and diesel by 24 paise and 15 paise per litre on Saturday.

In line with petrol, diesel prices also were unchanged on Sunday at Rs 81.47, Rs 88.60, Rs 86.45 and Rs 84.35 per litre, respectively in Delhi, Mumbai, Chennai and Kolkata.

Petrol and diesel prices have been rising continuously since February 9.

The increase in the previous weeks has taken petrol to cross historic high levels of Rs 100 a litre in several cities across the country.

Premium petrol crossed Rs 100 per litre mark in several cities of Rajasthan, Madhya Pradesh and Maharashtra a few days back.

Since fuel prices are benchmarked to a 15-day rolling average of global refined products' prices and dollar exchange rate, pump prices can be expected to remain northbound over the next few days even if crude price stabilises.

Oil companies executives said that petrol and diesel prices may increase further in coming days as retail prices may have to be balanced in line with global developments to prevent OMCs from making losses on sale of auto fuels.