New Delhi: Consumer may expect a Petrol, Diesel Price Cut Relief over the next few days. This may happen as Oil marketing companies (OMC) have started evaluating the dip in global oil prices and resultant impact on fuel prices India, according to an IANS report.
Petrol Price, Diesel Rate Today
- The benchmark Brent crude rose to USD 77 per barrel late last month. However, the rate has decreased by more than 10 per cent in the last fortnight, IANS report says.
- The current price is at a level of USD 68.85 per barrel now. If the price line remains below USD 70 a barrel for a few more days, petrol and diesel prices could witness a cut in the coming days, IANS reported.
- Already the impact of softening of prices in the oil market is being seen in the fuel price movement in the country. On Wednesday, the retail price of petrol and diesel were kept unchanged by OMCs. This is the fourth consecutive day, the longest period in weeks, when petrol and diesel prices have remained steady.
- With Wednesday’s pause, petrol continues to be sold for Rs 101.84 per litre, while diesel is also being sold at the unchanged price of Rs 89.87 a litre, according to IANS report.
- The pump price of fuel has been static since Sunday. It rose on Saturday with petrol being revised upwards by 30 paise per litre while diesel price remained unchanged, the IANS report says.
- In the city of Mumbai, where petrol price crossed the Rs 100-mark for the first time ever on May 29, the fuel price is at Rs 107.83 per litre. Diesel price in the city is also at Rs 97.45, the highest among metros.
- Petrol price in all metros have now crossed Rs 100 per litre-mark. But they have remained static the past four days.
- Under daily price revision, OMCs revise petrol and diesel prices every morning, benchmarking retail fuel prices to a 15-day rolling average of global refined products’ prices and dollar exchange rate. Once this 15 day cycle returns, petrol and diesel prices may fall.
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