Fuel prices maintain stability

| | New Delhi
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Fuel prices maintain stability

Saturday, 18 September 2021 | IANS | New Delhi

Auto fuel prices in the country have maintained stability amidst volatility in global oil prices with crude on the boil again rising sharply for past few days.

The oil marketing companies (OMCs) on Friday kept pump prices of auto fuels petrol and diesel unchanged, the 12th consecutive day of no revision, as they preferred to watch the global oil situation before making any revision in prices.

Accordingly, the price of petrol and diesel remained unchanged at Rs 101.19 and Rs  88.62 per litre in Delhi, as per Indian Oil Corporation, the country’s largest fuel retailer.

In Mumbai, the petrol price is stable at Rs 107.26 per litre on Friday, while diesel rates also remained unchanged at Rs 96.19 a litre.

Across the country as well, petrol and diesel prices remained static on Friday but their retail rates varied depending on the level of local taxes in a particular state.

Fuel prices have been hovering at record levels on account of 41 increases in its retail rates since April this year. Under the pricing formula adopted by oil companies, rates of petrol and diesel are to be reviewed and revised by them on a daily basis.

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