No change in petrol, diesel prices even as crude softens

Oil marketing companies did not revise the retail prices of petrol and diesel in Monday, maintaining the trend despite further softening of global oil prices this month.

With this, petrol prices have now remained unchanged for 47 days now while diesel prices have been at the same level since October 2. During this period, Brent crude prices fell by $2-3 per barrel and are currently hovering just over $40 per barrel.

Price of petrol in the national capital remained at Rs 81.06 per litre. In Mumbai, Chennai and Kolkata, the fuel was sold for Rs 87.74, Rs 84.14 and Rs 82.59 per litre respectively.

Diesel prices in Delhi, Mumbai, Chennai, and Kolkata were Rs 70.46, Rs 76.86, Rs 75.95, and Rs 73.99 respectively.

With global crude prices falling below $40 per barrel, consumers were hoping the pump prices of auto fuel will also fall. However, OMCs seem to be playing a waiting game before taking further action on petrol and diesel prices.

Global crude prices have remained around $40 a barrel, the same levels as last month. But it fell to around $39 a barrel last week. US crude prices are even below this level.