Petrol

Even though, global crude oil prices have fallen in the last couple of weeks to reach below $ 70 a barrel from a high of $ 77 reached early last month, OMCs have not revised petrol and diesel rates downwards but have kept its prices static for the past 23 days. Even on Monday petrol and diesel prices remained at the same level (Rs 101.84 for petrol and Rs 89.87 for diesel in Delhi) that was reached on July 17.

Global crude prices have swung in all directions in July starting with a low of $70 a barrel to quickly breaching to $77 a barrel, and then fall below $70 a barrel to crossing $75 a barrel later in the month. The oil prices have softened again to just over $70 a barrel on concerns of growing Covid cases, slowing industrial recovery globally and rising US oil inventory.

Accordingly, in the national capital, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre on Monday. One of the main reasons for pause in fuel price rise is an over 10 per cent fall seen in global oil prices with benchmark crude sliding to $69 a barrel earlier last month. It had again risen close to around $75 a barrel on strong demand projections.

The pump price of fuel has been static since July 18. One of the main reasons for the pause is an over 10 per cent fall seen in global oil prices with benchmark crude sliding to $69 a barrel from a high of over $77 a barrel just a couple of weeks ago. It has again risen close to over $75 a barrel on strong demand projections. The Brent crude oil is currently around $75.41 per barrel.

Accordingly, in the national capital, petrol continues to be sold at Rs 101.84 per litre, while diesel also is unchanged at Rs 89.87 a litre. The pump price of fuel has been static since July 18. With the OPEC reaching an agreement to raise crude production, oil prices were expected to remain soft. This could make way for fuel prices in India to actually fall after a long interval.

Accordingly, in the national capital, petrol continued to be sold for Rs 101.84 per litre, while diesel was being sold at the unchanged rate of Rs 89.87 a litre on Friday. The pump price of fuel has been static since July 18. One of the main reasons for the pause is an over 10 per cent fall seen in global oil prices with benchmark crude sliding to $69 a barrel from a high of over $77 barrel just couple of weeks back.

However, oil companies have stopped short of reducing the retail price of petrol and diesel during the week as more time will be required to study oil price movement before any downward revision. Already, crude has firmed up a bit for last few days and this could prevent price cut by OMCs.

However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision. Already, crude has firmed a bit for last few days and this could prevent price cut by OMCs. With no change in prices on Tuesday, in the national capital, petrol continues to be sold for Rs 101.84 per litre.

International crude prices declined around 10 per cent to $69 a barrel from a high of over $77 a barrel just a few weeks ago. Currently, the Brent crude is above $72 per barrel. The oil marketing companies, however, stopped short of reducing the retail price of petrol and diesel as more time is required to study the oil price movement before any downward revision.

However, they stopped short of reducing the retail price of petrol and diesel as more time will be required to study oil price movement before any downward revision Already, crude has firmed a bit for last few days and this could prevent price cut by the OMCs. With no change in prices on Saturday, in the national capital petrol continues to be sold for Rs 101.84 per litre, while diesel remains at the unchanged price of Rs 89.87 a litre.