Oil marketing firm to explore petrol: New Delhi Petrol and Diesel prices continued on silent mode with Oil Marketing Companies (OMCs) on Tuesday and now the prices of petrol and diesel remained stable for two weeks. Consequently, the pump prices of petrol and diesel in New Delhi remained at the previous day’s level of Rs 90.56 and Rs 80.87 per liter.
In particular, amendments to the two petroleum products may occur again after the ongoing state elections. With crude oil remaining below $ 65 a barrel, any softening on global oil in the wake of the epidemic in the US and a fresh wave of emerging oil stocks could actually mean lower petrol and diesel prices for consumers in India.
Petrol and diesel fell by 22 paise and 23 paise per liter respectively on 30 March, before a long-continued halt. The OMCs have since decided to stop the price revision, as they now want to see a drop in crude oil prices, which has now fallen to around 63.5%. A barrel.
Petrol and diesel prices have remained stable across the country on Tuesday as well, but its retail levels vary depending on the local level of the respective states.
In Mumbai, petrol continues at Rs 96.98 a liter and diesel at Rs 87.96 a liter. However, premium petrol remains more than Rs 100 per liter in the city, as in many cities across the country.
The OMC price was cut for the first time on two consecutive days – 24 and 25 March – after keeping oil prices stable for the last 24 days. It again lowered the price on 30 March. Subsequently, fuel prices remained unchanged.