In a relief for consumers, there was no hike in fuel prices on Monday. The pause came after 5 days of consecutive hike in prices of petrol and diesel.
The country witnessed the highest-ever level of petrol and diesel prices in the month of October.
Fuel prices remained constant on October 18 and 19 but it witnessed a hike for four consecutive days thereafter. After the price rise for five consecutive days between October 20 to 24, it was paused on October 25.
The petrol price in Delhi on Monday was Rs 107.59 a litre while diesel was sold at Rs 96.32 a litre, unchanged from Sunday as per price notification of state-owned fuel retailers.
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In Mumbai, the prices for petrol and diesel remained unchanged on Monday at Rs 113.47 per litre and Rs 104.47 a litre respectively. The current fuel prices in financial capital Mumbai remain the highest among all metros.
Diesel prices have now increased on 24 out of the last 31 days, taking up its retail price by Rs 7.80 per litre in Delhi.
Due to the sharp hike, the fuel is now available at over Rs 100 a litre in several parts of the country.
This dubious distinction was earlier available to petrol that had crossed Rs 100 a litre mark across the country a few months earlier.
Petrol prices had maintained stability since September 5 but oil companies finally raised its pump prices last week.
The rates increased on 21 of the previous 27 days taking up the pump price of petrol by Rs 6.40 per litre.
Crude price has been on a surge rising over a three-year high level of over $86 a barrel as global demand remains firm while OPEC+ continues to move s lowly on increasing production.
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Since September 5, wthe price of petrol and diesel in the international market is higher by around $9-10 per barrel as compared to average prices during August.
