Petrol

Accordingly, in the national capital, diesel price remains at Rs 84.07 per litre while petrol at 93.21 per litre.  Similarly, in Mumbai, Chennai and Kolkata, diesel continues to be priced at Sunday's level of Rs 91.30, Rs 88.87 and Rs 86.91 per litre respectively, and petrol at Rs 99.49, Rs 94.86 and Rs 93.27 per litre, respectively.

Continuing with fuel price hike momentum maintained this month, the Oil marketing companies (OMCs) raised the pump prices of petrol and diesel again on Friday across the country. The price of petrol increased by 17-19 paisa per litre while the diesel price increased by 28-30 paisa per litre across metro cities of the country.

In the national capital, petrol price increased 24 paise to Rs 92.58 per litre, up 24 paise from the previous level. Similarly, the price of diesel rose 27 paise to Rs 83.22 a litre. In Mumbai, Chennai and Kolkata, petrol price increased to Rs 98.88, Rs 92.67 and Rs 94.31 per litre, respectively, and that of diesel was at Rs 90.40, Rs 86.06 and Rs 88.07 per litre.

In Delhi, petrol now costs Rs 92.34 per litre and diesel is priced at Rs 82.95 per litre up from yesterday's level of Rs 92.05 and Rs 82.61 a litre respectively in the national capital. Across the country as well the petrol and diesel prices increased on Friday but its quantum varied depending on the level of local levies in respective states.

In Mumbai, petrol now comes for Rs 98.36 a litre and diesel for Rs 89.75, according to a price notification from oil marketing companies. Petrol prices in some states including Rajasthan, Madhya Pradesh and in some places in Maharastra have breached the Rs 100 per litre mark while premium petrol has been hovering above that level for some time now.

This is fourth increase in fuel prices in as many days as petrol and diesel prices rose by 15 paise and 18 paise per litre respectively on Tuesday and by 19 paise and 21 paise per litre respectively on Wednesday and by 25 and 30 paise respectively on Thursday after a 18 days break. With Friday's increase, petrol is now being retailed at Rs 91.27 a litre and diesel Rs 81.73 a litre in the national capital.

This is third increase in fuel prices in as many days as petrol and diesel prices rose by 15 paise and 18 paise per litre respectively on Tuesday and by 19 paise and 21 paise per litre respectively on Wednesday after 18 days break. With Thursday's increase, petrol is now being retailed at Rs 90.99 a litre and diesel Rs 81.42 a litre in the national capital.

In a letter written to LG, the Delhi Petrol Dealers' Association has said that police should open one side of the road particularly Delhi-Panipat side as farmers have agreed to give way in wake of the wide spread of Covid pandemic. This they said, would also help resume fuel stations operations that has been closed near the border for more than five months bringing income of pump owners to nil.

However, the two petroleum products may see revision again post conclusion of ongoing state elections. With crude remaining below $65 a barrel, any softening on global oil in wake of fresh wave of the pandemic and rising oil stocks in US could actually mean lower petrol and diesel prices for consumers in India.

Fuel consumption, an important barometer of the health of an economy, had shown contraction for the first time in two decades falling by a big margin of over nine per cent in FY21 as pandemic related lockdowns curbed economic activity and reduced the movement of goods and services across the country.