Following price decreases, petrol and diesel prices in the nation stayed unchanged for the second consecutive day on Thursday, as oil marketing companies (OMC) opted to stop for a day to monitor global events in the oil markets before making any additional adjustments.
As a result, petrol remains at Rs 101.49 per litre and diesel at Rs 88.92 per litre in the national capital. Fuel prices remained steady across the country on Thursday. Global crude oil prices had dropped in recent days, but have recently risen to moreover $71 per barrel.
With additional barrels expected to reach the market next month and demand circumstances being volatile, oil prices may fall once again. However, growing demand in the United States and declining inventory levels there may reverse the pricing momentum. Since July 18, the price of gasoline at the pump has been constant.
The lengthy price freeze for automobile gasoline occurred after prices rose for 41 days in the current fiscal year.
Petrol prices in Delhi have risen by Rs 11.44 per litre as a result of the 41 hikes. Similarly, fuel prices in the national capital have risen by Rs 8.74 a litre.
(Source- Business Standard)