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Last updated: 05 Mar, 2021  

Petrol.9.thmb.jpg Petrol, diesel price unchanged on Friday

Petrol.9.jpg
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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.
 
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