Relief for consumers as fuel prices maintain stability
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Auto fuel prices in the country have maintained stability amidst volatility in global oil prices.
The oil marketing companies (OMCs) on Wednesday kept pump prices of petrol and diesel unchanged, the 17th consecutive day of no revision, as they preferred to wait and watch the global oil situation before making any revision in prices.
The wait and watch plan of OMCs has come to the relief of consumers as no revision has come during a period when crude prices were on the rise over shortfall in US production and demand pick up. This would have necessitated about an increase of Rs 1 in price of petrol and diesel.
With no revision on Wednesday, the price of petrol and diesel remains unchanged at Rs 101.19 and Rs 88.62 per litre in Delhi.
In Mumbai, the petrol price is stable at Rs 107.26 per litre while diesel rates also remain unchanged at Rs 96.19 a litre.
Across the country as well petrol and diesel prices remained static on Wednesday but their retail rates varied depending on the level of local taxes in a particular state.
Fuel prices have been hovering at record levels on account of 41 increases in its retail rates since April this year. It fell on few occasions but largely remained stable.
