Relief for common man! Petrol, diesel prices unchanged for 6th straight day

It's a big relief for common man as fuel prices remained unchanged for the sixth consecutive day on Sunday across the four metros. Prices of the transportation fuel have had a pause after rising to record levels in 28 days after the oil marketing companies (OMC) resumed the daily price revision system from June 7 that kept the petrol and diesel prices to rise incessantly till June 29.

In the national capital, petrol price on Sunday stood at Rs 80.43 per litre and diesel at Rs 80.53 a litre, same levels as the last four days when OMCs went for a pause and kept the prices unchanged. During the daily hike till June 29, diesel prices in Delhi recorded a new feat by overtaking petrol prices, making the common man feel the heat more.

Sources in public sector oil companies said consumers could get relief from the regular price rise of the two petroleum products in coming days as the pause for four days now could be replicated if global oil prices remained soft. Also, the oil companies have covered most of the shortfall, when for 82 continuous days -- from March 14 to June 6 -- petrol and diesel prices remained unchanged while the government substantially raised taxes on the products.

But with global oil prices now again rising over $42 a barrel, there could be instances where petrol and diesel prices may begin their daily rise again. But for this to happen, the current level of crude price has to rise further. Petrol prices in Mumbai, Chennai and Kolkata were unchanged at Rs 87.19, Rs 83.63 and Rs 82.10 per litre respectively. Similarly, that of diesel in Mumbai, Chennai and Kolkata was unchanged at Rs 78.83, Rs 77.72, Rs 75.64 per litre respectively.