Petrol, diesel price rise on hold after 4 consecutive days of hike

| | New Delhi
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Petrol, diesel price rise on hold after 4 consecutive days of hike

Tuesday, 05 October 2021 | IANS | New Delhi

Petrol and diesel prices remained unchanged on Monday after the pump prices of both fuels rose simultaneously for four consecutive days taking up its retail rates by over `1 per litre. Benchmark crude prices have settled at a tad lower level of $ 79 a barrel now after shooting over a three-year high level of $ 80 a barrel early last week. This has given some room to OMCs to halt fuel price rise.With no change in fuel prices, diesel continues to be priced at `90.77 per litre while petrol maintains its priceline at `102.39 a litre in Delhi.

Petrol prices had maintained stability since September 5, but oil companies finally raised the pump prices last week on Tuesday given a spurt in the product prices lately. It has now followed diesel with regular hikes in prices for the last four days before the pause on Monday. Diesel prices on the other hand has increased on eight of the last 11 days that has raised its retail price by over Rs 2.15 per litre:The OMCs had earlier preferred to maintain their watch prices on global oil situation before making any revision in rates.

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