Oil marketing companies hold fuel prices, diesel price same for 9th day

Oil marketing companies (OMCs) continued to keep automobile fuel prices unchanged on Sunday, with diesel prices across the four metros remaining untouched for the ninth day in a row.

Petrol prices have not changed for over 40 days now in the country.

In the national capital, diesel was priced at Rs 73.56 per litre on Sunday.

Similarly, prices of the transport fuel remained unchanged in Mumbai, Chennai and Kolkata as well at Rs 80.11, Rs 78.86, and Rs 77.06 per litre respectively.

Petrol prices in Delhi, Mumbai, Chennai, and Kolkata were Rs 80.43, Rs 87.19, Rs 83.63 and Rs 82.05 per litre respectively, the same since June 29.

This relief from fuel price hike, however, may not continue for long, as prices may see an uptick in the coming week due to rise in crude oil prices. Futures of Brent crude is currently trading above $44 per barrel.

"We will observe the price movement for the next couple of days and if oil prices remain firm, a decision may be taken to revise retail product prices again under the daily price revision mechanism," said an executive of a public sector oil company on the condition of anonymity.