Petrol

Accordingly, '2W' demand has been tepid while that of 'PVs' is more resilient, given the relatively better income profiles of car customers. "In the current unlock phase, the pent-up demand is lukewarm as customer sentiment has been partially impacted by higher fuel prices -petrol prices are more than INR 100 in several states, which has resulted in high running costs and price hikes taken by the OEMs to offset rising commodity prices," said HDFC.

After crossing $77 a barrel, global crude prices have softened a bit with differences surfacing in oil cartel OPEC over continuation of production cuts. With price pause on Friday, petrol continues to be priced at Rs 100.56 a litre and diesel 89.62 a litre in the national capital. Across the country as well the fuel prices remained unchanged on Friday. Fuel prices were revised upwards on previous two days.

Accordingly, petrol continued to be priced at Rs 99.86 a litre and diesel Rs 89.36 a litre in the national capital on Tuesday. Across the country as well the fuel prices remained unchanged on Tuesday. The prices were last revised upwards on Monday when OMCs raised the petrol rates by up to 35 paise per litre while keeping diesel rates unchanged.

The sector met a large part of actual fund infusion required to support the biggest ever Rs 20 lakh crore economic package announcement by Prime Minister Narendra Modi in May, 2020 to revive the economy hit hard by the Covid-19 pandemic. A Rs 6.29 lakh crore stimulus has already been announced by the government again in 2021 and more is likely to come in the coming days.

petrol prices are expected to cross the century mark in these two cities at next revision. With this the fuel will be over Rs 100 a litre in all four metros and other major cities across the country. In the financial capital Mumbai, petrol price now stands at Rs 105.92 while diesel costs Rs 96.91, data available on Indian Oil Corporation's website showed.

In the other key cities too petrol prices continued to climb to new highs. In Mumbai, it was priced at Rs 105.58 per litre, while in Chennai also it has surpassed the Rs 100-mark and is currently at Rs 100.44 a litre. Price of petrol in Kolkata is also inching closer to the three-figure mark and on Sunday it was sold for Rs 99.45 a litre.

Across the country as well the fuel prices remained unchanged on Saturday. Fuel prices were last revised upwards on Friday. The price rise pause has come not before the fuel rates have reached new highs across the country through numerous increases in last two months.

Addressing a press conference here, she said that there is no such proposal at the present to reduce prices of petroleum. "When the international price of crude oil is higher, we have to increase the prices and when the international price is lower, we have to decrease the prices here too. This is a market mechanism which is followed by oil marketing companies. We have given them the freedom," she said in response to a question.

With the rise, petrol price has reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre-mark in certain cities and towns of Maharashtra, Madhya Pradesh, Rajasthan, Telangana, Andhra Pradesh.

The retail prices of both petrol and diesel rose by a sharp 35 paise per litre on Saturday to touch new high of Rs 98.11 and Rs 88.65 per litre respectively in Delhi. With the rise, petrol price has reached very close to hitting the century mark all across the country extending the scope of historic high prices that had already made the fuel rate cross the Rs 100 per litre mark in certain cities and towns of Maharashtra.