Petrol, diesel price rise on hold again

Consumers have been spared of any further hike in fuel prices with oil marketing companies deciding to keep the pump prices of both petrol and diesel unchanged on Monday.

For the last two days diesel prices had maintained an upswing rise by 15 paise per litre, each on Saturday and Sunday.

Petrol prices, however, were unchanged for the 27th consecutive day across the four metros. It is priced at Rs 80.43 a litre in the national capital.

In Delhi, diesel continues to be priced at Rs 81.94 a litre. Still it is now Rs 1.51 costlier than petrol in the city.

Similarly, diesel prices in Mumbai, Chennai and Kolkata continue to remain at Rs 80.11, Rs 78.86, Rs 77.04 a litre respectively.

Unexpected rise in diesel prices despite slower demand has put the transport sector at a big disadvantage as rising fuel cost has further shrunk its margins. The price of diesel in the capital has also put automobile companies concerned about the prospect of the sale of diesel-run cars in the country’s largest car market.

The Oil companies resumed the dynamic pricing system for daily revision of the two auto fuels from June 7 after keeping the price unchanged for around 82 days during the lockdown. Since then, while petrol prices have risen by Rs 9.17 a litre, diesel prices have risen by Rs 12.55 a litre in the national capital.