OMCs keep petrol, diesel prices unchanged for 11th day
NEW DELHI: There has been no reshuffle in fuel prices on Monday for the 11th consecutive day. Accordingly, the price of petrol and diesel stood at Rs 90.40 and Rs 80.73 per litre respectively, according to Indian Oil Corporation, the country’s largest fuel retailer.
In Mumbai, the petrol price remained unchanged at Rs 96.83 per litre on Friday. The cost of diesel also was the same at Rs 87.81 a litre.
The prices of petrol and diesel are reviewed by oil marketing companies such as state-run Indian Oil on a daily basis and any revision is implemented from 6 am in the morning.
The fuel prices vary from state to state in the country due to the value-added tax or VAT.
On the global front, oil prices eased slightly on Monday on concerns that a resurgence of coronavirus infections in India and Japan, the world’s third and fourth-largest oil importers, would cut fuel demand in Asia, according to news agency Reuters.
Brent crude futures fell 8 cents, or 0.1 percent, to $66.03 a barrel by 0058 GMT, following a 1.1 percent rise on Friday. US West Texas Intermediate (WTI) crude futures were down 4 cents, or 0.1 percent, at $62.10 a barrel, after rising 1.2 percent on Friday, Reuters said.
Both benchmark crudes fell about 1 percent last week.
