New Delhi: Petrol and diesel prices were today kept unchanged by oil marketing companies (OMCs). This comes after fuel rates were hiked simultaneously for the first time in several weeks. However, with no revision in fuel prices on Wednesday, both petrol and diesel rates remained static across the country.
- Petrol in Delhi costs Rs 101.39 per litre and diesel rate is Rs 89.57 per litre. Diesel rate in Mumbai is Rs 97.21 per litre and petrol price is Rs 107.47 per litre.
- In Kolkata, Petrol price is Rs 109.85 per litre and diesel rate is Rs 92.67 per litre. Petrol rate in Chennai is Rs 99.15 per litre and diesel price is Rs 94.17 per litre.
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. The new prices becomes effective from morning at 6 a.m., IANS reported.
The daily review and revision of prices is based on the average price of benchmark fuel in the international market in the preceding 15 days, and foreign exchange rates, as per the IANS report.
But, the fluctuations in global oil prices have prevented OMCs to follow this formula in totality and revisions are now being made with longer gaps. This has also prevented companies from increasing fuel prices whenever their is a mismatch between globally arrived and pump price of fuel, the IANS report says.
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