SME Times News Bureau | 05 Mar, 2021
Consumers have been spared of another increase in fuel prices with oil
marketing companies deciding to keep petrol and diesel rates static for
the sixth consecutive day even though global prices resumed firming up
after OPEC + decision to continue with crude production cut in April.
Accordingly,
petrol continues to be priced at Rs 91.17 a litre and diesel Rs 81.47 a
litre in the capital on Friday. Across the country as well the petrol
and diesel price remained unchanged.
After a spike in the global
oil prices seen over the last two weeks with crude price jumping close
to $ 67 a barrel, prices had fallen to around $ 63 a barrel, but it has
risen again to cross $67 a barrel mark.
Petrol and diesel prices
have been rising continuously since February 9. In the 14 increases
since then, prices have gone up by Rs 4.22 per litre for petrol while
diesel rate has risen by Rs 4.34 a litre in Delhi.
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.
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.
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.
